A collection of the brief insights throughout August 2022 of the type provided on an ad hoc basis in our Latest digital tax byte update.
Bulgaria has opened a public consultation until 6 September 2022 in connection with the preparation of a comprehensive preliminary assessment of the impact of the Law on Amendments and Supplements to the Tax and Insurance Procedural Code, which introduces into the provisions of Bulgarian legislation the rules of Council Directive (EU) 2021/514 of 22 March 2021. amending Directive 2011/16/EU on administrative cooperation in the field of taxation, providing for rules on the provision and exchange of information for sellers operating on digital platforms.
The scope includes information provided by platform operators for sellers from the EU that operate through these platforms, to be exchanged between the competent authorities of the Member States. It states that the information would be that of sellers who carry out relevant activities through the platform (rental of real estate, provision of personal services, sale of goods, rental for rent of any type of means of transport) and which are local to the Republic Bulgaria or another member state, or rent property that is located in the Republic of Bulgaria or another member state.
Hong Kong’s Financial Services and the Treasury Bureau (FSTB) issued a letter to various stakeholders that indicated the government would defer its implementation of the GloBE rules to 2024. In particular, the announcement notes that implementation of the IIR will be deferred to 2024 at the earliest (their original plan was to implement the IIR in 2023), and the timing for implementation of the UTPR and QDMTT will be “reviewed and determined with reference to other jurisdictions.” The FSTB also indicated that the Government intends to launch a public consultation towards the end of 2022 – such that the exercise “can benefit from the OECD’s Implementation Framework,” which it notes is scheduled to be released later this year (although, realistically, more likely early next year).
At its meeting on 17 August 2022, Switzerland's Federal Council opened the consultation on the ordinance on the minimum taxation of large corporate groups (Minimum Taxation Ordinance, MindStV), its implementation of the Pillar 2 Model Rules.
