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The Government of the Cayman Islands has published legislation in its Official Gazette to introduce a regulatory regime for virtual asset service providers (VASPs).
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The Government of the British Virgin Islands has announced that it will seek to boost tax collections by modernizing tax administration, not by imposing new taxes.
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The OECD has released a new report on countries’ tax rules for virtual currencies, alongside an announcement that the Common Reporting Standard will be expanded next year to newly cover virtual currency assets.
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French Minister of Finance Bruno Le Maire has reportedly said that France intends to collect the country’s digital services tax in December 2020.
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by Ulrika Lomas, Tax-News.com, Brussels 31 July 2020 The OECD has released peer review reports reviewing nine territories’ progress towards implementing the BEPS Action 14 standard, on improving tax dispute resolution. The peer review process is conducted in two stages: stage one seeks to evaluate implementation of the Action 14 minimum standard for Inclusive Framework...
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by Mike Godfrey, Tax-News.com, Washington 24 July 2020 The United States Council for International Business has called on US authorities to focus its efforts on working with other countries to arrive at an international tax solution to the digitalized economy, rather than tackling countries’ unilateral responses. On June 2, 2020, the United States Trade Representative...
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by Mike Godfrey, Tax-News.com Washington 17 July 2020 The Office of the US Trade Representative has announced that the US will impose additional duties of 25 percent on imports of certain French products from next year in response to the country’s decision to introduce a digital services tax (DST). The US considers that France’s DST...
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by Mike Godfrey, Tax-News.com Washington 17 July 2020 On July 13, 2020, the US Internal Revenue Service (IRS) issued a progress report on the last two years’ work of the J5 group of five advanced countries, who are working collaboratively to tackle cross-border tax fraud. The J5 group is made up of the tax enforcement...
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by Mike Godfrey, Tax-News.com Washington 03 July 2020 US Trade Representative Robert Lighthizer told a congressional hearing on June 17, 2020, that the US Government has withdrawn from international negotiations on new global tax rules for digital companies at the OECD. Lighthizer told a hearing of the House of Representatives Ways and Means Committee that...
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by Ulrika Lomas, Tax-News.com, Brussels 28 May 2020 French Finance Minister Bruno Le Maire has said that the Government intends to introduce a digital services tax this year. The French DST is a three percent tax on the revenue of digital companies providing advertising services, selling user data for advertising purposes, or performing intermediation services....
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