September 02, 2014
In an exclusive interview with International Tax Review, Werner Schuster, vice-president – head of tax at Philip Morris International (PMI), outlines the benefits of working in an in-house tax team, points out how technology is only as good as the data you input and explains why PMI does not outsource its tax functions.
August 04, 2014
Between 1983 and 2004 there were 29 inversion transactions out of the US. In the decade following, almost 50 companies restructured using the method. With foreign profits trapped offshore by an outdated, worldwide system which would hit them with a tax on repatriation, as well as a high tax rate, the temptation to consider an inversion is proving too much for US companies, particularly those in the highly-mobile pharmaceuticals sector. Whatever the motivation, inversions are in vogue. ITR’s special report looks at the knock-on impacts of the current wave of inversions, including shareholder pressure to consider an option they see their rivals pursuing and the possible inflammation of the tax morality debate in the US. We also bring you exclusive insight as to why Danaher is not looking to invert.
August 20, 2014
With the introduction of the goods and services tax (GST) from April 2015, the Malaysian Customs Department has released its GST handbook to help prepare businesses for the new tax, but time is running out.