During its meeting on May 18, 2022, the Swiss Federal Council adopted the dispatch on the introduction of the automatic exchange of financial account information (AEOI) with 12 further partner states.
Entry into force is planned for 2023, with the first exchange of data taking place in 2024.
Specifically, the Federal Council intends to exchange financial account information with the following additional partner states for the first time in 2024: Ecuador, Georgia, Jamaica, Jordan, Kenya, Moldova, Montenegro, Morocco, New Caledonia, Thailand, Uganda, and Ukraine.
China has deposited its instrument of approval for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Convention), which now covers over 1 820 bilateral tax treaties.
China's instrument of approval also covers Hong Kong (China)'s bilateral tax treaties. The Convention will enter into force on 1 September 2022 for China.
On 1 June 2022, over 880 treaties concluded among the 76 jurisdictions which have ratified, accepted, or approved the BEPS Convention will have already been modified by the BEPS Convention. Around 940 additional treaties will be modified once the BEPS Convention will have been ratified by all Signatories.
Ireland consults on minimum tax rate
Ireland has launched a public consultation seeking stakeholder views on the implementation of the Pillar Two Minimum Tax Rate proposal in Ireland.
The purpose of the consultation is to seek the views of stakeholders on the transposition of Pillar Two into Irish law.
The consultation period will run until 22 July 2022.
On May 12, 2022, the South African Revenue Service (SARS) published a comprehensive guidance on dividends tax.
Guidance is included on exemption from dividends tax and relief from double taxation; and withholding of dividends tax, among others.
Comments on the guidance may be sent to email@example.com.
Malta updates DAC6 guidance
On April 29, 2022, the Maltese Commissioner for Revenue published DAC6 guidance in the form of FAQs.
The guidance explains the definition of intermediary, reporting deadlines and obligations, and other general questions.
There are a total of 27 questions.