RSM has combined its expertise from across the network to create its interactive International Tax InfoMap. The tool is designed to help internationally ambitious businesses respond to the latest developments in international trade.
The map covers over 25 countries including the US, UK, Germany, Brazil, Australia and Hong Kong, with additional markets to be added throughout the year. The map highlights the primary sovereign tax issues related to that market, as well as the broad requirements that businesses must adhere to, such as new transfer pricing rules and country-by-country reporting. The map highlights changes in specific markets and will emphasise primary points such as:
• The continuing uncertainty about international tax standards in the US. Although there was a desire to reform US tax code, prior to the November 2016 election, Congress was not involved in the Base Erosion and Profit Sharing (BEPS) project. Despite the desire for change, there is no clear indication of how the Trump administration will action this and whether it will relate to a specific BEPS policy.
• The differing approach that Brazil has taken in relation to transfer pricing and the simplified methodologies historically used. As such, what is the likelihood that it will change its transfer pricing policies and practices as a consequence of the BEPS recommendations?
• Germany has been an outlier, having negotiated a deal with the OECD omitting them from changes to the definition of permanent establishment regulations. That deal is due to expire and German firms need to prepare for the impact.