The discussion draft for Action 10 of the Base Erosion and Profit Shifting (BEPS) project has been met with both plaudits and criticisms. Clarifying key terms and categories gives greater guidance to taxpayers but the industry is still unsure whether the OECD’s universal approach is realistic.
Korea’s National Tax Service (NTS) has announced plans to ease the tax burden on foreign companies in an attempt to quash concerns over cross border transactions with parent firms.
The recent growth in transfer pricing related articles in the Vietnamese press and the government’s aggressive tax audit efforts have left many multinationals feeling uneasy.
Procter & Gamble’s (P&G) operations in Argentina have been suspended because of allegations the company overbilled exports to funnel money out of the country, hiding taxable income. Press coverage has intensified and the boundaries between fact and speculation are becoming increasingly unclear.
