The EU implemented, at the beginning of 2023, new reporting rules in EU Directive DAC 7 for digital platform operators everywhere, including, potentially, Israel. E-commerce website The EU has around 450 million affluent consumers in 27 countries. Following is an overview of DAC 7. Which Platforms? A Platform is broadly defined and includes any software…

Over the next year governments around the world hope to dig up treasure for their tax coffers. Not buried underground but hidden in the internet cloud. The USA, EU and OECD are behind this and the UN wants to tighten it further. Double taxation and other risks may be around the corner. Preparation and compliance…

In Greek mythology, Hercules was famous for holding the weight of the world on his shoulders, but it seems he really held the sky on his shoulders instead of Atlas, in return for three golden apples. More recently, US President Biden may have pulled off a similar feat. He couldn’t persuade Congress to adapt US…

In the interests of world tax certainty, the OECD introduced us on February 1, 2023 to MoMA, which is apparently short for Manual on the handling of multilateral Mutual Agreement Procedures (MAPs) and Advance Pricing Arrangements (APAs). Multilateral justice for all? MoMa’s purpose is to save your tax skin from multiple taxation if you are…

The OECD proposes a “Two Pillar” plan to reform the international tax system which targets e-commerce over the internet. It would apply to larger groups with annual revenues over EUR 750 million – EUR 20 billion. Smaller e-commerce groups also have problems – see below. Pillar One would re-allocate some taxable profit to countries where multinational…

Robin Hood took from the rich to give to the people in Sherwood Forest. The OECD is copying with a two-pillar plan to take income from offshore subsidiaries of big groups to give to governments of the peoples in 141 countries – including Israel. Pillar 1 proposes to re-allocate profit, Pillar 2 proposes a minimum…