Some of the opinions of what happened in the Financing for Development conference in Addis Ababa point out that no significant measures were taken in the outcome document.
The Australian Tax Authority warned multinational corporations they will deal seriously with profit-shifting. The ATO is concerned that the amount charged by some hubs (The ATO has identified them to be operating in Singapore and Switzerland) to the Australian companies is not what arm’s length or independent parties would pay.
ICC has welcomed a new World Customs Organization’s (WCO) Guide to Customs Valuation and Transfer Pricing which includes ICC proposals for more coherent tax and customs revenue collection.
The European Commission on June 17 said it is readying a proposal for an EU-wide common consolidated corporate tax base (CCCTB) that would be mandatory for multinationals.
Royal Dutch Shell has waded in on the avoidance debate and warned that tensions arising over a crackdown will have serious repercussions for industry