G20 goes no further than support for global accounting standards
Despite coming under pressure for a commitment to International Financial Reporting Standards (IFRS), the leaders of the G20 were low-key in their support for global accounting standards on June 18 and 19.
Jamaican finance minister hints at FATCA agreement with US
Jamaica has become the latest jurisdiction to raise the possibility of concluding a bilateral agreement with the US to implement the Foreign Account Tax Compliance Act (FATCA).
IRS & Treasury tighten rules on US firms moving to low-tax countries
Read why the IRS and Treasury have released new rules that make it harder for US companies to relocate to low-tax jurisdictions.
US Senate assessed impact of tax reform on energy policy
In the latest Senate Finance Committee hearing into US tax reform, the impact of reform on energy policy was assessed, with committee chairman Max Baucus saying it provides the energy sector with an opportunity to make real progress in securing future energy supply while also simplifying the tax code.
Spain set to take IMF’s advice and raise VAT
The IMF has recommended that Spain should raise its VAT rates, making an increase next year even more likely
UK could challenge EU’s attack on energy efficiency VAT incentives
The European Commission has begun infringement proceedings against the UK for the reduced rate it applies on energy saving and heating products, but the UK might have a sound argument to challenge.
How Scottish Power’s US Tax Court victory could hamper IRS
The IRS may need to reconsider its position when challenging certain debt instruments after Scottish Power this week won its US Tax Court case over the tax deductibility of interest.
Indian tax authorities “wrong” to target Airtel over customs duties
Indian telecommunications company Bharti Airtel has been ordered to pay Rs700 crore ($124 million) for alleged evasion of customs duties, but many tax professionals believe the treatment is un