30 May 2014

Americas Tax Center Weekly Roundup

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Latest news — Americas

OECD hosts third webcast update on BEPS project

On 26 May 2014, the OECD hosted a webcast on its ongoing project to address base erosion and profit shifting (BEPS). The webcast provided an overview of the OECD’s recent activity with respect to its July 2013 BEPS Action Plan. In particular, the discussion focused on those actions for which public consultations have recently been held and for which the relevant OECD working parties are in the final stages of drafting the output to be delivered in September. A Tax Alert has details.

US IRS releases Competent Authority statistics

The US Internal Revenue Service (IRS) recently released its Competent Authority annual report for the period ending 31 December 2013. A highlight of the report is the significant increase in the number of Mutual Agreement Procedure cases closed in 2013. In addition, the report’s statistics reflect positive results in that double taxation was eliminated for 82% of the dollar amount of the total adjustments at issue. A Tax Alert has details.

The latest on OECD BEPS as of 27 May 2014

Our biweekly update on the OECD’s base erosion and profit shifting (BEPS) projects highlights the latest developments of interest, including: (1) the OECD’s public consultations on its Discussion Drafts on hybrid mismatch arrangements and transfer pricing documentation / country-by-country reporting, (2) the OECD’s 26 May BEPS webcast, and (3) recent Brazilian corporate income tax reform and other developments.

Canadian territory Nunavut budget 2014-15 tabled

Nunavut Finance Minister Keith Peterson tabled the territory’s fiscal 2014-15 budget on 26 May 2014. The budget contains no new taxes and no income tax increases. A Tax Alert has details.

This week's tax treaty news in the Americas

  • Colombia and Ecuador: social security agreement approved by National Assembly of Ecuador
  • Uruguay and Vietnam: tax treaty approved by Uruguay
  • US and Poland: tax treaty sent to US Senate

This week's EY Global Tax Alerts

Upcoming webcasts

  • Managing indirect tax data for insight and control (4 June)
    An upcoming webcast will outline leading data management approaches and technology tools to help companies analyze indirect tax data more effectively, drive value and achieve strategic goals. The webcast will discuss why this issue is "front of mind" for today’s global companies and demonstrate how technology can offer more visibility of indirect tax positions. Register here
  • 2014 tax risk and controversy survey highlights (5 June)
    Our 2014 tax risk and controversy survey found that reputation risk, the OECD BEPS project, complex new national legislation, and more robust tax enforcement worldwide are all putting more pressure on tax function resources, processes and technology. Register for the upcoming webcast to hear highlights from the survey of 830 tax and finance executives in 25 jurisdictions. Register here

Recently archived webcasts now available on-demand

  • Internal customs and international trade training: US defense export controls and economic sanctions
    The latest customs and international trade training webcast targeted at Canada, Mexico and US personnel covered export controls for defense articles and services / US economic sanctions