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May 17, 2013
The dust has finally settled on the quick-fire legislation introduced to encourage tax compliant behaviour among groups which are suppliers to the UK government. The outcome is that the government has introduced an additional set of questions to be answered by suppliers during the selection process, to reject companies found to be engaging in attempted tax avoidance.
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May 16, 2013
The US have published new versions of the intergovernmental agreements (IGA) that have become the main instruments for the implementation of the Foreign Account Tax Compliance Act (FATCA).
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May 15, 2013
UK financial services companies could be doing much more to ensure their critical tax data is secure.
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May 08, 2013
Draft legislation to repeal the Foreign Account Tax Compliance Act (FATCA) is unlikely to spare foreign financial institutions from the task of complying with the law aimed at minimising tax evasion by US taxpayers.
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May 01, 2013
An important deadline is imminent for foreign financial institutions (FFIs) that want to ensure they become compliant as early as possible with the Foreign Account Tax Compliance Act (FATCA) in the US.
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April 24, 2013
Taxpayers will have to get used to automatic exchange of information as standard, if the G20 get their way.
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April 23, 2013
Business will be part of a new structure the European Commission has set up to facilitate dialogue and the exchange of expertise between those interested in combating tax evasion.
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April 22, 2013
Pascal Saint-Amans, the head of tax at the OECD, has said the world is coming together over the issue of the automatic exchange of tax information.
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April 17, 2013
Companies in the Netherlands will face tougher rules on the filing of their tax returns from the 2013 tax year, 12 months later than expected after the Dutch tax authorities reversed previously announced plans.
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April 17, 2013
President Obama's 2014 budget request last week reintroduced proposals from previous budgets relating to the electronic filing of tax returns and penalties for not doing so.
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April 10, 2013
Foreign financial institutions (FFIs) now have a good indication of the information they will need to register for compliant status, under America’s Foreign Account Tax Compliance Act (FATCA), and the detail the Internal Revenue Service’s monthly list of compliant FFIs could include.
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April 10, 2013
The Australian government’s proposals on tax transparency are aimed at ensuring companies pay their fair share of tax and do not engage in tax minimisation. In this Q&A, Michelle de Niese, assistant director of the Corporate Tax Association (CTA), which represents Australian companies, explains why the CTA does not believe the proposals measure up to their objectives.
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April 09, 2013
The Australian government has released a discussion paper regarding its proposed move to force the largest 2,000 companies to disclose more tax information, an initiative which represents a significant shift away from the view that corporate tax return details are confidential.
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April 03, 2013
The Internal Revenue Service in the US is looking for new members for its Information Reporting Program Advisory Committee (IRPAC).
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March 28, 2013
Taxpayers in the US could have to pay to participate in the IRS’s Compliance Assurance Process (CAP) in the future, if a review by tax officials comes out in favour of charging user fees for the pre-filing programme that attempts to resolve any issues before a tax return is filed.
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March 27, 2013
The Canadian government has imposed extra information reporting requirements on certain financial institutions and raised the possibility of rewards for information about international tax non-compliance.
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March 27, 2013
Australian companies will have to plan for disruption to cashflow, and higher funding and compliance costs because of changes to the way they pay corporation tax.
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March 20, 2013
The UK expects to recover £1 billion ($1.5 billion) from new tax reporting measures, including automatic exchange of information, agreed with its Crown Dependencies of Guernsey, the Isle of Man and Jersey.
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March 20, 2013
The UK government has changed its stance today on proposals that, from April 1 2013, would have required taxpayers to prove they have been tax compliant for 10 years before they could be awarded government contracts.
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March 14, 2013
Taxpayers look set for closer scrutiny from tax authorities over their attitude to tax planning and after-tax hedging.
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March 08, 2013
It is fair to say the Indian budget this month left corporate investors disappointed. Expectation was high for business-friendly tax measures but few appeared, save for an announcement that safe harbour rules and guidance are imminent.
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March 06, 2013
Taxpayers in Australia have the chance to influence the implementation and design of the reform of when large companies pay income tax.
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March 06, 2013
A new draft ruling from the Vietnamese Ministry of Finance makes it easier for shipping companies to obtain a tax exemption under a tax treaty and reduces the required frequency of tax returns.
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February 27, 2013
The European Commission aims to publish its plans for a European Taxpayers’ Code and European Tax Identification Number by the end of 2013.
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February 26, 2013
The Russian government is targeting 2018 as the year when all companies in Russia will have to use international financial reporting standards (IFRS), a government minister has said.
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February 20, 2013
A change to how companies account for US income taxes could be in the offing after the Financial Accounting Foundation (FAF) announced a post-implementation review of FAS 109, the financial accounting standard for income taxes in US Generally Accepted Accounting Principles (GAAP).
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February 14, 2013
Companies in the UK, even if they are not tax resident, will have to certify that they have been tax compliant for the previous 10 years before they can compete for government contracts, under new proposals introduced today.
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February 14, 2013
The US has achieved a significant result in its efforts to clamp down on tax evasion by its entities and citizens around the world by persuading Switzerland to sign a bilateral agreement for the implementation of the Foreign Account Tax Compliance Act (FATCA).
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February 13, 2013
A consultation has revealed that multinational companies, accounting firms and standard setters want IAS 12, the international accounting standard for income taxes, to change but few are in favour of tearing it up and starting again.
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February 12, 2013
Reduced compliance costs, improved service and how best to ensure that the UK tax system is implemented as parliament intended are some of the aims of a new academic organisation set up to look at how UK tax administration could operate better.