Maya Forstater on Twitter: "It says 'give us the info or send us a letter explaining why not'. I am wondering what % comply by sending a letter explaining that they don't have the information (i.e. is this in effect a symbolic bit of the legislation, or does it really result in more info gained?)… https://t.co/o6zzdm2pvH"

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Maya Forstater‏ @MForstater 13 Aug 2018

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Maya Forstater Retweeted Maya Forstater

Any #taxtwitter know the answer? e. g. UK local filing requirement is only for a 'UK CBCR' (UK entity & looking down its subsidiaries). Is there a mechanism to enforce local reporting looking upwards to group?https://twitter.com/MForstater/status/1027836413889458176 …

Maya Forstater added,

Maya Forstater @MForstater

Replying to @MForstater @hselftax and 6 others

OK so... Geeky question for #taxtwitter. How does Vietnam's 'comply or explain' local filing requirement for CBCR work in practice? Can't the local subsidiary just say "we don't have access to that information"?

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Rasmus Corlin Christensen‏ @phdskat 13 Aug 2018

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Replying to @MForstater

I'm not sure about the specific Vietnamese context, but the core problem of extraterritorial enforcement (when the local sub can't coerce the HQ) was a key struggle in BEPS exactly because there's no established enforcement mechanism (https://phdskat.org/2016/08/03/beps-moving-away-from-separate-entity/ …)

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Maya Forstater‏ @MForstater 13 Aug 2018

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Replying to @phdskat

Right... So that's why I'm wondering what the 'yay Vietnam has done *this*' story really means if *this*' isn't really possible?!

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Rasmus Corlin Christensen‏ @phdskat 13 Aug 2018

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Replying to @MForstater

I'm not sure - I don't know the specific local context. There could be something to it, I just know it was a problem they identified but couldn't really solve in BEPS

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iain campbell‏ @iaincampbell07 13 Aug 2018

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Replying to @phdskat @MForstater

On first principles can't see how country A can oblige a firm resident outside that country, and not carrying on business directly, to comply with local laws. Analogous to recovery of tax debt in foreign country? I think @AislingTax has the reference, was it an Indian case?

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Aisling Donohue‏ @AislingTax 13 Aug 2018

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Replying to @iaincampbell07 @phdskat @MForstater

Govt of India is UK case. Buchanan v McVeigh is Irish one. Very tricky if parent says no.

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Rasmus Corlin Christensen‏ @phdskat 13 Aug 2018

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Replying to @AislingTax @iaincampbell07 @MForstater

I'd venture a guess and say any practical solution, to be successful, would have to rely on innovative 'diplomacy' or geopolitical might (see e.g. TheTaxThatShallNotBeNamed) rather than strictly legal procedure

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Maya Forstater‏ @MForstater 13 Aug 2018

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Replying to @phdskat @AislingTax @iaincampbell07

Yup. How do countries have legal jurisdiction to require local filing of Master File, but not of CbCR ? (since they are both data held by ultimate parent)? @AlexParkerDC @martinhearson

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Martin Hearson‏ @martinhearson 13 Aug 2018

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Replying to @MForstater @phdskat and

Perhaps because I am a lawyer, I don't understand the issue other than Aisling's last tweet. Vietnam says 'we don't care about the corporate veil, just give us the info or face X consequence', company makes its choice.

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Maya Forstater‏ @MForstater 13 Aug 2018

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Replying to @martinhearson @phdskat and

It says 'give us the info or send us a letter explaining why not'. I am wondering what % comply by sending a letter explaining that they don't have the information (i.e. is this in effect a symbolic bit of the legislation, or does it really result in more info gained?)

2:03 AM - 13 Aug 2018

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1. Maya Forstater‏ @MForstater 13 Aug 2018
  
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  Replying to @MForstater @martinhearson and
  
  (oops - sorry, clarifying: my response and wondering is re: the Vietnam case...) Also : are you a lawyer?
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1. Martin Hearson‏ @martinhearson 13 Aug 2018
  
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  Replying to @MForstater @phdskat and
  
  I haven't actually looked at the detail, I'm thinking about this in the abstract. Discussed it before wrt EU where I can see there is a much thicker web of legal obstacles.
  
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