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On June 20, 2016, the HM Treasury has again published an updated list of countries that support the initiative for the automatic exchange of information on beneficial ownership.

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On June 29, 2016 the Japanese Ministry of Finance issued a press release announcing that the Government of Japan and the Government of the Republic of Latvia will initiate negotiations for a tax convention between the two countries.

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As we have reported earlier the Belgian Government has asked for additional time to determine its final position regarding the Presidency proposal for a final compromise text for an EU Anti Tax Avoidance Directive. Therefore during the ECOFIN meeting of June 17, 2016 it was decided to have a so-called silence procedure until Monday June 20, 2016, 24:00 (midnight). This means that EU Member States have until that deadline to raise objections against the text of the compromise. If the deadline expires without any of the Member States objecting, this automatically means that a political agreement has been reached on the matter. The proposal will then be forwarded to the European Council for adoption. Although at this moment the deadline has not yet expired and therefore no political agreement has been reached yet, it still might be interesting to have a look at the text of the final Presidency compromise and to compare it to the initial proposal as presented by the European Commission on January 28, 2016.

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The European Commission has published the responses it received on the consultation it opened on October 1, 2015 on a re-launch of the Common Consolidated Corporate Tax Base (CCCTB). The consultation already closed on January 8, 2016.

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In this edition: Singapore – Singapore Joins Inclusive Framework for Implementing Measures against Base Erosion and Profit Shifting (BEPS); Singapore – IRAS e-Tax Guide - GST: Concession for REITS and Qualifying Registered Business Trusts Listed in Singapore (Third edition): Malta – “EU TAX AGREEMENT ACCEPTABLE TO MALTA” – MINISTER SCICLUNA; Isle of Man – FATCA AND IGA REPORTING DEADLINES NEAR; Virgin Islands – Updated 2016 Reporting Deadlines For Us Fatca And UK CDOT; Switzerland – Dritte Reform der Unternehmensbesteuerung; Germany – Grü­nes Licht im Bun­des­rat für mo­der­ne­res Be­steue­rungs­ver­fah­ren; Netherlands - Besluit van de staatssecretaris van financiën (nr. BLKB 2016/113M) - Vennootschapsbelasting en Dividendbelasting. Inkoop van eigen aandelen

  1. Still no final agreement on an EU Anti Tax Avoidance Directive. Dutch MoF hopes that an agreement will be reached on Monday
  2. Japan and Norway sign a Customs Mutual Assistance Agreement
  3. Austrian Minister of Finance on a Financial Transaction Tax: “Countries agree on Austria's compromise”
  4. The OECD has made a replay available of its BEPS webcast of June 16, 2016
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