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On November 6, 2015, at the annual meeting of the OECD Global Forum on VAT, the INTERNATIONAL VAT/GST GUIDELINES were published.
In the Introduction to the Guidelines the following is noted:
“At the second meeting of the OECD Global Forum on VAT, in April 2014 in Tokyo, the high-level officials of 100 jurisdictions and international organisations endorsed the first three chapters of the OECD International VAT/GST Guidelines as global standards for the application of VAT/GST to international trade. In the Statement of Outcomes of this meeting, they urged the OECD to finalise the work on the remaining elements of the Guidelines and to present the completed Guidelines for endorsement at the next meeting of the Global Forum. This work has been carried out since April 2014 and the resulting new elements of the Guidelines have been merged with those that were endorsed at the 2014 Global Forum to form a fully consolidated draft. This consolidated draft was approved by the OECD’s Committee on Fiscal Affairs (CFA) on 7 July 2015 with OECD and G20 countries working together on an equal footing, and is now presented for discussion at the third meeting of the OECD Global Forum on VAT.
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Below a selection of Dutch jurisprudence that was published on rechtspraak.nl on November 6, 2011.
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To date 10 out of the 14 multinationals that are invited to TAXE’s meeting of November 16, 2015. 1 multinational has declined the invitation and on November 6 TAXE was still awaiting response from 3 others.
What a difference compared to the score that TAXE obtained when it invited a.o. these same multinationals to appear in one of its Hearings (June 1, June 23 or July 2). Then only 4 out of 18 multinationals accepted the invitation.
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On November 4, 2015 the governments of the Isle of Man and Romania signed an Agreement for the Exchange of Information Relating to Tax Matters (TIEA). The TIEA arranges for the exchange of information upon request.
Although signed, the TIEA has not yet entered into force.
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In today’s edition a.o.: IFRS – IFRS Foundation Trustees propose to give the IASB greater involvement in IFRS Taxonomy development; Australia – Public Consultation opened – Small Business Restructure Rollover; The Netherlands – Kamerbrief Fiscale behandeling contingent convertibles (coco’s); The Netherlands – UBS-European Tax Overview (Annex to Kamerbrief Fiscale behandeling contingent convertibles (coco’s)); The Netherlands – UBS Tax section (Annex to Kamerbrief Fiscale behandeling contingent convertibles (coco’s)); Belgium – Amendes et accroissements d’impôt pour fiches fiscales et déclarations de précompte professionnel non rentrées; OECD – BEPS implementation and beyond: Developed and developing countries gather at the OECD to tackle reforms to the international tax system; Cyprus –The decree in accordance with the Assessment and Collection of Taxes Laws of 1978 until 2015 by virtue of section 6(15) of the Law (FATCA); Ireland – Revenue eBrief No. 107/15 – Changes to the Employment and Investment Incentive (EII) from 13 October 2015
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