COMTAX AB
  • Home
  • Products
  • NEWS
  • Partners
  • Contact
  • Join us
  • FAQs
  • Login

International Tax News & Updates

More countries bring preferential tax regimes in line with global rules

8/6/2021

 
Picture
Progress continues in combatting harmful tax practices as new outcomes on the review of preferential tax regimes have been approved by the OECD/G20 Inclusive Framework on BEPS.

At its April 2021 meeting, the Forum on Harmful Tax Practices (FHTP) took new conclusions on 25 regimes as part of the implementation of the BEPS Action 5 minimum standard.

Based on an earlier government commitment, the Australian Offshore banking regime has now been abolished, with grandfathering provided to existing taxpayers within the FHTP’s timelines.

In addition, the Philippines will abolish its Regional operating headquarters regime as of 1 January 2022 (without grandfathering) and is "potentially harmful but not actually harmful" for the time being.

The United States has also confirmed its intention to abolish the Foreign derived intangible income (FDII) regime, which has therefore been classified as "in the process of being eliminated".
As Trinidad and Tobago was not able to fulfil its commitment to abolish its Special economic zone regime within the agreed timelines, it is now considered "harmful". Two newly introduced regimes were concluded as "not harmful" (Hong Kong (China) and Georgia).
​
Finally, the FHTP reviewed 12 regimes for the first time, and these are now "under review" (Armenia, Eswatini, Honduras, Lithuania, and Pakistan).

Comments are closed.
    Subscribe now!

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    February 2014

COMTAX AB

H3 Business Center
Biogränd 7
SE-572 30 Oskarshamn
Sweden

CONTACT

Tel.: +46 46 590 07 70
E-mail: support(@)comtaxit.com

INFORMATION

Privacy Statement
Partner Program
Picture
© COPYRIGHT 1985 - 2021 COMTAX AB.  ALL RIGHTS RESERVED.
  • Home
  • Products
  • NEWS
  • Partners
  • Contact
  • Join us
  • FAQs
  • Login