BDO Corporate Tax News - Issue 62

BDO Corporate Tax News summarises recent tax developments of international interest across the world. 

In this issue:

  • Australia: Budget 2022-23 measures affecting businesses
  • Canada:
    • CRA position on income tax implications of cryptocurrency transactions
    • Highlights of 2022 budget measures affecting businesses
    • Details and impact of proposed interest deductibility rules
  • Combodia: New law aims to attract investors
  • Estonia: Agreement reached to postpone Estonia’s implementation of the global minimum tax
  • European Union:
    • Draft directive aims to reduce bias that favours debt financing
    • EU Finance Ministers consider amended directive for implementation of Pillar Two, but no unanimous agreement
  • Germany: Expanded reporting obligations for German entities affect ultimate beneficial owners
  • Hong Kong: 2022/23 Budget includes measures to implement BEPS 2.0
  • International: Corporate - tax bytes
  • Italy: Implementing rules for the new super deduction released
  • Kuwait: Income tax on Kuwait-registered branches of GCC banks proposed
  • Luxembourg: Capital contribution without share issuance does not increase acquisition price for purposes of participation exemption
  • OECD:
    • Pillar Two rules could have lasting impact on MNE groups
    • Impact of the OECD Pillar Two model rules on natural resource companies
  • Singapore: 2022 Budget includes announcement on Pillar Two minimum effective tax rate
  • Spain: Interaction of new minimum tax with Pillar Two and summary of White Paper on international tax
  • Uganda: Definition of beneficial ownership may be expanded
  • United Arab Emirates: Ministry of Finance launches public consultation on proposed corporate tax regime
  • United States:
    • FY 2023 budget plan proposals affecting corporate businesses
    • Important cryptocurrency related proposals included in 2023 budget proposal
    • Tax treaty ratification moves forward

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