In this third quarter issue of PKF’s Worldwide Tax Update, noteworthy tax changes and amendments are provided from around the world, and each is followed by a PKF commentary which provides further insight and information on the issues. PKF members are happy to assist you with any tax, or tax related matter, and respective contact details can be found at the end of each article’s commentary.

In this September issue we see countries such as Australia and Spain aligning their transfer pricing practices with Part 13 (transfer pricing) of the OECD’s Base Erosion and Profit Shifting (BEPS) Plan, which will direct certain taxpayers to provide a master file, local file and country-by-country reporting. Other areas of the OECD BEPS Plan are also being picked up by countries, for example, Australia proposes to introduce a tax integrity multinational anti-avoidance law to curb cross border tax abuse, France is amending its tax administration to remove the benefit of the parent-subsidiary regime from hybrid instruments and the UK introduced its Diverted Profits Tax which became effective from 1 April 2015.


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