The European Direct Tax Committee covers income-based tax aspects of European operations, including tax treaty matters, and develops the Institute’s positions and submissions to taxing authorities in European countries, as well as the European Union and OECD.
Certain Aspects of OECD Pillar Two - TEI Comments
On August 14 2023, TEI submitted comments to the OECD regarding certain aspects of the OECD's Pillar Two initiative. TEI's comments were provided as a follow up to the Institute's June 6 meeting with representatives from the OECD. The Institute's comments focused on issues arising from disputed tax amounts, administration of the GloBE information return, as well as the various Pillar Two safe harbors. The Institute's comments were led by TEI's EMEA Direct Tax Committee. Benjamin R. Shreck, TEI Tax Counsel, coordinated the preparation of the Institute's comments.
Australian Public CbC Reporting - TEI Comments
On July 21, 2023, TEI submitted a second set of comments to the Australian Senate Standing Committees on Economics regarding a proposal to require public disclosure of certain country-by-country ("CbC") report information. The Institute's comments included concern regarding the extraterritorial scope of the proposal, the inconsistency of the required disclosure with the CbC information reported under BEPS Action 13, and the lack of safeguards for commercially sensitive information. TEI's comments were prepared under the aegis of its EMEA Direct and Asia Tax Committees. Benjamin R.
TEI Comments on Australian Intangible Payment Deduction Denial Proposal
On April 28, 2023, TEI submitted comments to the Australian Treasury regarding the Treasury's proposal to deny deductions for certain intangible payments to related entities. The Institute primarily focused on the inconsistency and prematurity of the proposal given the ongoing OECD negotiations regarding the global anti-base erosion model rules. TEI's comments were developed under the aegis of its European Direct and Asia Tax Committees. Benjamin R. Shreck, TEI tax counsel, coordinated the preparation of the Institute's comments.
TEI Comments on Australian Public CbC Reporting Proposal
On April 28, 2023, TEI submitted comments to the Australian Treasury regarding the Treasury's proposal to require certain companies to publicly disclose tax information on a country-by-country ("CbC") basis. TEI's comments focused on the differences between the Australian proposal and other initiatives to publicly report CbC data around the world, which could lead to confusion, among other things. TEI's comments were prepared under the aegis of its European Direct and Asia Tax Committees. Benjamin R. Shreck, TEI tax counsel, coordinated the development of TEI's comments.
TEI Comments on OECD Pillar Two GloBE Tax Certainty Consultation
On February 3, 2023, TEI provided comments to the Organisation for Economic Co-operation and Development ("OECD") regarding its public consultation on GloBE tax certainty under the OECD's two pillar approach to the tax consequences of the digitalization of the economy. The Institute's comments focused on preventing and resolving tax disputes arising from the GloBE rules. TEI recommended the OECD certify that jurisdictional laws implementing the GloBE rules are consistent with those rules, required jurisdictions adopting the GloBE rules commit to dispute resolution, among other things.
TEI Comments on OECD Pillar Two GloBE Information Return Consultation
On February 3, 2023, TEI submitted comments to the Organisation for Economic Co-operation and Development ("OECD") regarding the GloBE Information Return under Pillar Two of the OECD's project on the digitalization of the economy. The Institute's comments primarily focused on the ways to reduce the volume of information required under the return, by both eliminating information that is reported via other means and reporting on a jurisdictional basis rather then entity-by-entity.
TEI Comments on OECD Pillar One Amount B Consultation
On January 25, 2023, TEI submitted comments to the Organisation for Economic Co-operation and Development ("OECD") regarding the OECD's public consultation on the design elements of Pillar One, Amount B. TEI's comments included the need to broaden the scope of Amount B to achieve its goal of transfer pricing simplification, ensure timely and binding dispute resolution procedures, and clarify the interaction between Amount B and the marketing and distribution safe harbor of Amount A. TEI's comments were prepared under the aegis of its EMEA Direct Tax Committee. Benjamin R.