Category: Taxation
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Law 19/2016 of Automatic Exchange of Information on Tax Matters of Andorra
Law 19/2016 of 30 November on the automatic exchange of information in tax matters was passed by the General Council of Andorra and came into force on January 1, 2017. This law implements the OECD’s Common Reporting Standard (CRS) for the automatic exchange of financial account information to improve international tax compliance. Key aspects of Law…
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Income Tax (Transfer Pricing) Rules, 2006 in Kenya
The Income Tax (Transfer Pricing) Rules, 2006 in Kenya were introduced to provide guidelines for related enterprises in determining arm’s length prices for goods and services in transactions between them. These rules were enacted following a landmark case involving the Commissioner of Income Tax and Unilever Kenya Limited, which highlighted the need for clear transfer pricing…
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Act on the Rules of Taxation (Act CL of 2017) – Hungary
The Act on the Rules of Taxation (Act CL of 2017) is a significant piece of legislation in Hungary that came into effect in 2018, introducing several changes to the country’s tax administration system. This act, along with the Act on Tax Administration Procedure (Act CLI of 2017), was part of a broader effort to…
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Section 3B of the Danish Tax Control Act
Section 3B of the Danish Tax Control Act (skattekontrolloven) is a key provision governing transfer pricing documentation and reporting requirements for Danish taxpayers engaging in controlled transactions. The main aspects of this section include: It’s important to note that as of January 1, 2019, the content of Section 3B has been replaced by sections 37 to…
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Law No. 2018/011 of 11 July 2018 (Cameroon)
The correct title of the law is “Law No. 2018/011 of 11 July 2018 to lay down the Cameroon Code of Transparency and Good Governance in public finance management”. This law establishes the framework for transparency and good governance in the management of public finances in Cameroon. Key points of Law No. 2018/011 include: Country by…
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Multinational Entities Financial Reporting Act, 2018 (Bahamas)
The Multinational Entities Financial Reporting Act, 2018 (MNE Act) came into force on January 1, 2018, in The Bahamas. This legislation was enacted in response to the OECD’s Base Erosion and Profit Shifting (BEPS) initiative and the European Union’s guidance on fair taxation. Key aspects of the MNE Act include: The MNE Act is part of…
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Law No. 9920 on Tax Procedures (Albania)
Law No. 9920, dated May 19, 2008, titled “On Tax Procedures in the Republic of Albania” regulates the procedures for administering tax liabilities, the principles of organization and functioning of the tax administration in Albania. Key aspects of Law No. 9920 include: The law has undergone several amendments since its adoption in 2008 to adapt…
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Chapter 33a of the Tax Procedure Act (Skatteförfarandelagen 2011:1244) in Sweden
Chapter 33a of the Swedish Tax Procedure Act (Skatteförfarandelagen 2011:1244) deals with country-by-country reporting for large multinational enterprise groups. This chapter implements the EU directive adopted in 2016 on country-by-country reporting, which is based on the OECD’s BEPS Action 13.Key points about Chapter 33a include: The 2024 update to the OECD guidance clarifies how to handle…
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Part 38, Chapter 3A of the Taxes Consolidation Act 1997 (TCA 1997) of Ireland
Part 38, Chapter 3A of the Taxes Consolidation Act 1997 (TCA 1997) deals with the Implementation of Council Directive 2003/48/EC of 3 June in Ireland. This chapter is related to the implementation of European Union regulations concerning taxation. The Taxes Consolidation Act 1997 is a comprehensive piece of legislation that consolidates various tax laws in…
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EU Directive on Administrative Cooperation (DAC4)
The EU Directive on Administrative Cooperation (DAC4) introduced Country-by-Country Reporting (CBCR) to enhance tax transparency within the European Union. This amendment to the original DAC directive was implemented in 2016 through Council Directive 2016/881/EU.Key aspects of DAC4 include: DAC4 aims to combat tax evasion and avoidance by providing tax authorities with a comprehensive view of multinational…
CbC Reporting 