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(June 9, 2015)
Earlier today we reported about the multinational corporations that were invited to the Special Committee’s Hearings/Meetings (See our Article from earlier today). According to the European Parliament from the 15 multinational corporations that were invited as per June 5, 2015 only one has accepted the invitation, 7 have declined the invitation and 7 have not formally replied yet. On the afternoon of June 9, 2015 a press release titled “MEPs regret that multinationals are “unable” to meet the Tax Rulings Committee” was published on the website of the European Parliament.
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(June 9, 2015)
On June 5, 2015 the European Parliament's Special Committee on Tax Rulings and Other Measures Similar in nature or Effect published an overview of multinational corporations invited to the Special Committee’s Hearings/Meetings, the invited representatives as well as the replies the Special Committee received as per June 5, 2015. The score as per June 5, 2015 is: 1 acceptance, 7 declines and still waiting for 7 replies.
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(June 8, 2015)
On June 8, 2015 the European Commission issued a press release in which it announces that it has issued two injunctions ordering Estonia and Poland to deliver within one month information requested by the Commission on their tax rulings practice. According to the European Commission both countries have to-date refused to respond in full to previous information requests. The press release furthermore states that should any of the two fail to deliver the missing information within one month, the European Commission may refer that Member State to the European Court of Justice.
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(June 8, 2015)
On June 8, 2015 the OECD released a package of measures for the implementation of a new Country-by-Country Reporting plan developed under the OECD/G20 BEPS Project. According to a press release issued by the OECD in this respect, the implementation package consists of model legislation requiring the ultimate parent entity of an MNE group to file the Country-by-Country report in its jurisdiction of residence, including backup filing requirements when that jurisdiction does not require filing.
Read more: OECD releases Implementation Package for BEPS Country-by-Country reporting
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(June 8, 2015)
On June 8, 2015 the OECD released a package of measures for the implementation of a new Country-by-Country Reporting plan developed under the OECD/G20 BEPS Project. According to a press release issued by the OECD in this respect, the implementation package consists of model legislation requiring the ultimate parent entity of an MNE group to file the Country-by-Country report in its jurisdiction of residence, including backup filing requirements when that jurisdiction does not require filing.
Read more: OECD releases Implementation Package for BEPS Country-by-Country reporting
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