This is a biweekly report with brief summaries of the latest activity in the OECD Base Erosion and Profit Shifting (BEPS) project and the latest country specific legislative and administrative activity related to the global focus on BEPS. In this edition, the following countries are discussed: Australia, Belgium, Colombia, Gibraltar, Guernsey, Hong Kong, Hong Kong-Cambodia, Jersey, Lithuania, and United Arab Emirates.

A Tax Alert prepared by Ernst & Young's International Tax Services group, and attached below, provides additional details.

Please note - EY’s Latest on BEPS newsletter is taking on a new look and feel. The current newsletter is published every two weeks. After an approximate one month hiatus, the newsletter will be published once a month beginning in September 2019. The new monthly newsletter, The Latest on BEPS and Beyond, will continue to include reports on the most recent BEPS-driven activity in individual countries as well as information on countries’ global and regional policy trends.

If you are already registered for the Latest on BEPS newsletter via EY’s Tax News Update, your profile will be updated automatically and you will receive the new newsletter in September 2019. For any questions, please email US Tax Alerts Help at ustaxalertshelp@ey.com.

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ATTACHMENT

The latest on BEPS as of August 12