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Corporate Tax

News In Brief

  • Obama proposes corporate tax cut to 28%

    February 22, 2012

    President Barack Obama’s administration has unveiled plans to cut the top corporate tax rate from 35% to 28%, a reduction that would be offset by the closure of certain tax breaks and subsidies.

  • BUDGET ANALYSIS: South Africa increases capital gains and dividend tax rates

    February 22, 2012

    South Africa today released its 2012 budget which included changes to the treatment of capital gains and dividends, as well as the way the tax system is administered.

  • Tax assistance agreement adds Greece to its ranks

    February 22, 2012

    As Greece struggles to fix the problems in its economy, today it signed an international tax agreement that could be a source of much-needed funds.

  • UK must cut compliance burden and complexity of tax regime, says CBI

    February 22, 2012

    The Confederation of British Industry (CBI) signalled a general approval of Chancellor George Osborne’s tax policy yesterday, but warned he must get the details right to make the UK the most competitive regime in the G20.

  • Weatherford makes progress with fixing its tax accounting

    February 22, 2012

    Weatherford, an oilfield services and equipment company, has told investors that because of deficiencies in its income tax reporting, they should not rely on the company’s previous financial statements.

  • BUDGET ANALYSIS: Singapore enhances incentives, but rate stays the same

    February 21, 2012

    Last week’s Singapore budget provided some important changes for capital gains on sale of shares, as well as for the Productivity and Innovation Credit (PIC) scheme.

  • How the Irish Finance Bill will benefit the financial services industry

    February 21, 2012

    The Irish Finance Bill has signalled the introduction of targeted tax provisions aimed at improving the competitiveness of Ireland’s financial services industry, as well as enhancements to the R&D tax credit scheme.

  • US Treasury Secretary: Tax reform plan coming this month

    February 21, 2012

    Treasury Secretary Timothy Geithner has confirmed that the White House’s corporate tax reform framework will be released by the end of the month.

  • Why Rick Santorum is promoting a manufacturing-friendly tax plan

    February 21, 2012

    Calling the health and state of the economy “obviously the number one issue in this campaign”, Republican presidential candidate Rick Santorum has announced his corporate tax plan, standing by his commitment to provide manufacturing businesses with significant incentives.

  • COMMENT: Why the US budget will leave American businesses playing catch-up

    February 20, 2012

    Businesses want certainty, and they want quick, decisive action on tax reform. President Barack Obama’s budget did not provide for any of these, and the continuing delays in action being taken could hurt US companies for some time to come.

  • Tax transparency in the spotlight like never before

    February 17, 2012

    Companies around the world are beginning to understand the importance of transparency about their tax affairs and the reputational benefits of eschewing aggressive tax planning. They will have the opportunity to debate these crucial issues with administrators, activists and practitioners at International Tax Review's first Tax & Transparency Forum on May 2.

  • Risk is vital for business, but only with effective management, says TCPI

    February 16, 2012

    Delegates at the Tax Council Policy Institute (TCPI) were told yesterday that tax risk is an important and unavoidable part of doing business, but that effective risk management is essential.

  • Partnerships – Are they the cure for FATCA?

    February 15, 2012

    The US announced on February 8, that it is pursuing “FATCA Partnerships” with France, Germany, Italy, Spain and the UK.

  • Proposed FATCA regs: reaction from around the world

    February 15, 2012

    The proposed regulations for the Foreign Account Tax Compliance Act (FATCA) are evidence that the US Treasury has listened to financial institutions about the difficulty of implementing such complex legislation in the time allowed.

  • Fools rush in where Angela should fear to tread

    February 14, 2012

    Credit rating downgrades may be worrying, but German chancellor Angela Merkel and other European leaders must resist hasty tax policy changes.

  • France-Luxembourg tax treaty renegotiation will cost investors

    February 14, 2012

    Foreign investors using Luxembourg holding companies to buy French real estate must restructure their investments or face a significantly increased tax bill, because of imminent amendments to a tax treaty between the two countries.

  • REACTION: Obama’s inconsistent budget

    February 14, 2012

    President Barack Obama delivered his 2013 budget speech yesterday and despite not dealing with comprehensive reform of the tax code – proposals for which will come in the next few weeks – he reiterated the sentiments of his State of the Union address and called for ending tax breaks for companies that ship jobs overseas, replacing them with incentives for those companies that conversely bring jobs and investment to the US.

  • European Tax Awards 2012: Entries close on February 14

    February 13, 2012

    Firms with offices throughout Europe and South Africa have until tomorrow to enter for International Tax Review's European Tax Awards

  • BUDGET ANALYSIS: Obama promotes repatriation

    February 13, 2012

    With Barack Obama’s administration having announced that broad corporate tax reform will be dealt with separately in the coming weeks, and political turmoil stifling progress on US tax issues in general, there were no great expectations for the President’s 2013 budget, delivered today. But amid Obama’s rhetoric of hope and camaraderie, of fairness and responsibility, some meaningful tax changes were proposed.

  • COMMENT: Why Indian taxpayers need to be patient during a busy 2012

    February 13, 2012

    Rumours of delays in the implementation of India's Direct Taxes Code (DTC) and goods and service tax (GST) should be welcomed by taxpayers.

  • COMMENT: Why the UK’s tax regime means it is open for business

    February 13, 2012

    Opinion is divided as to what path UK chancellor George Osborne should take in his 2013 budget next month. The coalition government has consistently delivered the statement that “Britain is open for business”, but how is the UK ensuring it remains an attractive location for business and investment?

  • Congress tackles impact of accounting on US tax reform

    February 10, 2012

    In its latest meeting about comprehensive tax reform, the House Ways and Means Committee on Wednesday held its first hearing on the effect of tax and financial accounting on tax reform, and on how businesses evaluate tax policy, concluding that financial accounting factors must be a consideration when designing reform.

  • Does LDF extension show weakness of HMRC‘s information gathering powers?

    February 09, 2012

    HM Revenue & Customs’ (HMRC) decision to extend the Liechtenstein Disclosure Facility (LDF) by a year is a sign that it has been successful. However rumours of a conversation between Dave Hartnett and tax justice campaigner Richard Murphy, denied by HMRC, suggest the UK tax authorities’ other strategies might not working.

  • US releases further FATCA guidance

    February 08, 2012

    The US Treasury has today issued proposed regulations on the implementation of FATCA.

  • ANALYSIS: Why taxpayers should consider relocating to the UK

    February 08, 2012

    Slashing the corporate tax rate, reforming the controlled foreign company rules and blocking plans for a financial transactions tax are just three ways the government hopes to attract multinationals to relocate to the UK. International Tax Review investigates whether these steps will tempt companies to make the move.

  • Facebook paid more than 35% US tax rate in 2010 and 2011

    February 07, 2012

    The flag dropped on the world’s biggest initial public offering of an internet company’s shares last Wednesday when Facebook lodged an S-1 form with the SEC. What did the filing tell us about the social networking company’s tax position?

  • Belgium finalises corporate tax measures in 2012 budget

    February 07, 2012

    After a series of last-minute changes, the Belgian 2012 budget has been approved with changes being made to provisions for short term capital gains, stock options, thin capitalisation restrictions and the introduction of a new general anti-avoidance rule.

  • How George Osborne can stimulate the UK economy

    February 07, 2012

    A UK think-tank has urged the coalition government to halve the corporate tax rate, arguing it is the “only source of a viable economic recovery”, but the report overlooks other vital areas of the tax code such as reform of the controlled foreign company (CFC) regime.

  • INSIGHT: What to expect in India’s budget next month

    February 07, 2012

    India’s finance minister will present his 2012 budget on March 16 and advisers are warning that taxpayers should be prepared for the adoption of controlled foreign company legislation, a general anti-avoidance rule and a place of effective management regime.

  • Interpretation of new German rules adds to compliance for foreign holding companies

    February 07, 2012

    The German Ministry of Finance has published an interpretative letter dealing with how the tax authorities intend to enforce revised anti-treaty shopping rules, which took effect on January 1.

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