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On July 11, 2017, the OECD released the draft contents of the 2017 Update to the OECD Model Tax Convention. Interested parties were invited to provide comments with respect to the following parts of the 2017 Update to the OECD Model Tax Convention that had not previously been released for comments (For further information see our article from July 11, 2017). Now the OECD has published the comments it received the on the draft contents of the 2017 Update to the OECD Model Tax Convention which it released on July 11, 2017.
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In this edition: The European Commission – WORKING PAPER No 69 – 2017 (Towards a European R&D Incentive? An assessment of R&D Provisions under a Common Corporate Tax Base); Japan – Tax Convention with Slovenia will Enter into Force; New Zealand – Govt announces BEPS decisions; New Zealand – NZ to strengthen tax agreements with India, San Marino; Singapore – Singapore and Nigeria Sign Agreement for Avoidance of Double Taxation; Austria – Steuerliche Behandlung von Kryptowährungen (virtuelle Währungen); Switzerland – Additional agreement to double taxation agreement with Belgium entered into force; Switzerland – Switzerland and Ecuador sign protocol of amendment to double taxation agreement; United Kingdom – Reform to Corporation Tax loss relief draft guidance; Ireland – Revenue eBrief No. 73/17 - Guidelines for requesting Mutual Agreement Procedure (MAP) assistance in Ireland; Ireland – Revenue eBrief No. 74/17 - Transfer Pricing Documentation Obligations; Ireland – Revenue eBrief No. 72/17- Guide to Exchange of Information under Council Directive 2011/16/EU, Ireland’s Double Taxation Agreements and Tax Information Exchange Agreements and the OECD/Council of Europe Convention on Mutual Administrative Assistance in Tax Matters.
Read more: International Tax Plaza’s Quick News from August 13, 2017
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The Belgian Minister of Finance has issued a press release announcing following the example of its neighbouring countries, the optional submission to the vat regime will apply to the letting of immovable property to professionals. This neutral situation to the tenant also allows the deduction of VAT on the construction of the building, if relevant.
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On August 1, 2017 the Platform for Collaboration on Tax published a draft toolkit designed to help developing countries tackle the complexities of taxing offshore indirect transfers of assets. The Platform for Collaboration on Tax is seeking public feedback on the draft toolkit.
The Platform partners (IMF, OECD, UN and World Bank Group) seek comments by September 25, 2017 from all interested stakeholders on this draft. Comments should be sent by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it., a common comment box for all the Platform organisations. According to the Platform Spanish and French language versions of the toolkit are forthcoming and will also be posted for comment. The Platform states that it aims to release the final toolkit by the end of 2017.
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