On 29 September 2022, FinCEN released the final regulations regarding Beneficial Ownership Information Reporting Requirements which implement the beneficial ownership information reporting provisions of the Corporate Transparency Act.
In brief After much anticipation, the OECD released the ‘Blueprint’ for their Pillar Two proposal on 12 October as part of its two pillar package to deal with the increasing digitalisation of the economy. The premise behind the Pillar Two proposal is simple, if a state does not exercise their…
In brief The Baker McKenzie Global Tax Team has undertaken an in-depth analysis of the ‘Blueprint’ for the Pillar One proposal to produce a digestible summary of everything you need to know. To read our summary of the Blueprint for Pillar Two please click here. Contents CHAPTER 1 – INTRODUCTION TO…
Access the latest edition of the EMEA Transfer Pricing Guide on our TaxShare platform The 2020 EMEA Transfer Pricing Guide provides you with a detailed overview of the transfer pricing regime in many key jurisdictions across Europe, Africa, and the Middle East region. The guide outlines transfer pricing rules and…
Following a recent announcement of the European Commission’s proposal for a three-month deferral of reporting deadlines under the new DAC6 mandatory disclosure regime in the EU and UK, the Committee of the Permanent Representatives of the Governments of the Member States to the European Union (COREPER) has now reached an agreement on a revised proposal which could possibly defer the reporting deadline for six months. On the basis that the draft Directive, once approved, may be adopted at the discretion of each member state, it is imperative that businesses do not delay in preparing to meet their existing compliance obligations should reporting dates not be deferred (or not be deferred in all Member States where they operate).
In addition to the human tragedy, COVID-19 challenges the financial sector’s operating and business models and engages a wide range of law and regulation. As organizations strive to maintain business continuity and protect their workforce, they will face competing legal and regulatory pressures, particularly those operating on a cross-border basis,…
As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world and restrictions to the mobility of people and goods increase, businesses are facing weakened financial markets, as well as disruption to workplace operations and business pipelines. Tax authorities across the globe have enacted amendments in order to cope…
In its decision of 26 September 2016, the Supreme Court of Switzerland resolved a long-outstanding issue of Swiss tax law: the deductibility of punitive fines by companies for corporate tax purposes.
Earlier this year, the US Department of Justice (DOJ) entered into its 80th, and final, non-prosecution agreement with a Swiss bank as part of its groundbreaking program to combat offshore tax evasion in Switzerland and beyond.