Trump Administration FY 2018 budget highlights tax reform effort, as House tax reform hearings begin
23 May 2017
The Trump Administration today released a $4.1 trillion FY 2018 budget proposal to Congress that proposes to balance the federal budget over 10 years by promoting economic growth through tax reform, regulatory relief, and infrastructure investments, and by significantly reducing federal spending.
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Netherlands seeks comments on dividend withholding tax proposal affecting cooperatives and BVs/NVs
22 May 2017
Draft legislative amendments to the Dutch Dividend Withholding Tax Act on the withholding tax position of Dutch cooperatives (the Consultation Document) are open for consultation from May 16, 2017, through June 13, 2017. The Consultation Document is not yet a formal legislative proposal but rather a draft proposal. The Consultation Document seeks to align the dividend withholding tax treatment of holding cooperatives with that 0f Dutch tax-resident entities with capital divided into shares (BVs/NVs).
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Update on Australian country-by-country reporting Local Files
17 May 2017
The Australian Taxation Office (ATO) has published further guidance on the Australian Country-by-Country (CbC) Local File, including guidance on the electronic filing format; guidance on the provision of international related-party (IRP) agreements within Part B of the CbC Local File; and further details on the administrative concession which permits early filing of Part A of the CbC Local File, instead of providing certain transfer pricing disclosures in the International Dealings Schedule (IDS) of the income tax return.
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