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Covid-19: Government Intervention Schemes Guide

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Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of key government...

Global: Will Pillar 1 gain impetus and reach a consensus based solution in 2021?

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On 14 and 15 January 2021, the OECD held a public consultation to address comments received from the public on the Draft Pillar 1 and Pillar 2 Blueprints (available here). The first day of the two-day consultation, which was held via video conference, addressed feedback received from stakeholders (businesses, trade associations, academia and NGOs) in December of 2020 on the Pillar 1 Blueprint. The OECD also provided an update on the state of play, with confirmation that the Inclusive Framework goal remains to reach a consensus political agreement by July of 2021. While the participants echoed the broad support among businesses and organizations for an international consensus-based solution, it is clear following the January 14 consultation that substantial work lies ahead before a Pillar 1 agreement is reached, and thereafter further work to draft the necessary multinational agreements and obtain national agreement before it can be successfully implemented across a meaningful number of jurisdictions. Below, we examine the key take-aways from the consultation on Pillar 1.

Europe: Post-COVID-19 Cross-border remote working: managing tax risks

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The pandemic has impacted our lives in many ways, but for many of us, one of the most affected areas has certainly been work.COVID-19...

Global: Hot Topics in US, EU, Russian Trade Sanctions and Export Controls

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Our lawyers present a session on Hot Topics in US, EU, Russian Trade Sanctions and Export Controls as part of our 2020 Global Trade...

The Netherlands: European Member States reach consensus on reporting obligation for digital platform (“DAC7”)

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On 21 November 2020 the European Member States reached consensus on a proposal for the seventh Directive on Administrative Cooperation ("DAC7"). The updated Directive is a part of a package which was published by the European Commission earlier this year to promote fair and simple taxation.1 It is expected that DAC7 will be officially adopted on short notice.DAC7 introduces an obligation for certain digital platforms to collect and report information to their local tax authority on income generated by certain sellers on those digital platforms. This reporting obligation imposes an additional compliance burden for the digital platform companies in scope, as such companies will be confronted with an additional due diligence and reporting obligation.This tax alert will provide the most relevant considerations of DAC7. We note that preparations are already in motion for an eighth Directive ("DAC8") which will cover crypto assets.

International: COVID-19: Government Intervention Schemes Guide

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Countries around the globe are facing unprecedented and rapid change due to the COVID-19 pandemic. The Government Intervention Schemes Guide provides a summary of...

International: VAT and e-Commerce transactions

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Baker McKenzie's VAT/Indirect Tax Practice presented "e-Commerce", on 28 October 2020. This was the seventh presentation in the International VAT Conference Webinar Series, a global webinar series designed for VAT specialists from all industry sectors that aims to discuss the latest developing trends and hot topics in the VAT/goods and services tax (GST) and customs arena.

Global: A Guide to Regulatory Fintech Sandboxes Internationally

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Regulators around the world are responding quickly to the rapidly evolving financial technology, or fintech, landscape. As new or emerging financial products, services or...

Europe: COVID-19 – Recovery & Renewal – EMEA Tax Issues – CG&R Session

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Baker McKenzie's EMEA Tax Practice Group presented an overview on 'CG&R Session,' the ninth in a series of short webinars to keep tax professionals abreast of recent developments in these less than certain times on 29 September 2020.

Netherlands: Temporary COVID-19 Act allows virtual meetings for legal entities

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The measures to contain COVID-19 in the Netherlands entail social distancing and restrictions on meetings. This also impairs decision-making within legal entities where the law or articles of association sometimes require physical meetings. To solve this issue, a temporary COVID-19 act has been adopted to allow for virtual general meetings and board meetings. The new rules apply with retroactive effect from 16 March 2020.
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