• Service: Legal Services, Tax Services
  • Type: KPMG information, Publication series
  • Date: 3/14/2014

Financial Update - March 2014 

This issue of our Financial Update discusses certain aspects of international cooperation under the OECD which has recently focused its activities on transfer pricing and international cooperation in tax matters. Even though OECD reports and guides are not legally binding, they significantly affect the procedures undertaken by individual tax administrators. It is therefore likely that the Czech Republic will reconsider its approach to mandatory documentation on transfer pricing between related parties.

Financial Update March 2014
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  • In preparation: an amendment to the Act on Investment Companies and Investment Funds
  • Changes in the application of VAT on electronically supplied services and on radio and television broadcasting A mini VAT One Stop Shop
  • BEPS Action Plan: taxation of the digital economy
  • OECD: new requirements on transfer pricing documentation submitted for public consultation
  • Will the automatic exchange of information between tax authorities become more commonplace?
  • The Supreme Administrative Court on the deductibility of expenses relating to additional royalties billed by a parent company
  • The CJEU decides again on the entitlement to a VAT deduction
  • New treatment of overdue liabilities from a corporate income tax perspective