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International tax reform – winners and losers The OECD's Impact Assessment presents its international tax reform proposal as the least worse-case scenario rather than a significant improvement on what we already have. The proposal is based around two pillars: Pillar One seeks to re-allocate taxing ri... Pillar Two: Is the cure worse than the disease? During OECD Tax Talks #17, Pascal Saint-Amans presented the Pillar One and Two Blueprints as a glass half-empty because no consensus has yet been reached, and a glass half-full because each “Blueprint nevertheless provides a solid foundation for a future ... Changes to Spanish VAT regulations anticipated According to the latest news, it appears that, following a report from the Spanish Independent Fiscal Accountability Authority (Airef) on tax incentives, the Spanish Government is considering the possibility of eliminating the VAT exemption for private he... FSB pronounces on regulation of stablecoins On Monday the Financial Stability Board (FSB) published its final report and high level recommendations on the regulation, supervision and oversight of "global stablecoin" (GSC) arrangements. The report considers that the emergence of GSCs may challenge e... Brexit preparedness check: customs and trade in goods The transition period ends in less than three months on 31 December 2020 and negotiations between the UK and the EU on their future relationship remain unconcluded. In respect of the movement of goods between the UK and the EU (and even within the UK, bet... AI and the fight for inventorship – DABUS patent knocked out in UK High Court The UK High Court is the latest authority in the ring to referee Dr Stephen Thaler’s endeavour to have his artificial intelligence, creativity machine – DABUS or Device for the Autonomous Bootstrapping of Unified Sentience – recognised as an inventor of p... International Tax Competitiveness Index 2020: the results are in The Tax Foundation has published the International Tax Competitiveness Index 2020 which assesses the relative competitiveness and neutrality of OECD nations’ tax system by looking at 40 tax policy variables across five categories. In the overall ranking, ... A resilient future? European Commission proposes a new regulation on digital operational resilience for the financial sector Resilience is a buzzword on the up. According to Google Trends its popularity as a search term in the UK has steadily climbed since 2015 as the concept of resilience—the ability to recover and adapt in the face of adverse conditions—has taken root in our ... 2021 Irish Budget: key tax measures The Irish Minister for Finance, Paschal Donohue, and the Irish Minister for Public Expenditure and Reform, Michael McGrath, made their respective speeches to the Irish Parliament on Tuesday 13 October 2020. The Budget has been shaped in the context of the... OECD Pillar 1: Loss treatment in the context of Amount A Amount A under Pillar One of the OECD’s two-pillared proposal for international tax reform would constitute a new taxing right for market jurisdictions. Granting new taxing rights should imply the attribution of either higher profits or higher losses (dep...