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July 25, 2014
In the first part of International Tax Review's exclusive interview, Steven Ouwerkerk, global head of tax & treasury at APM Terminals, based in The Hague, Netherlands, talks about the need for in-house tax teams to maintain consistent engagement with the boardroom and CFO, and reveals what it is that keeps him up at night.
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July 25, 2014
A recent report criticising Ireland’s economic growth plan – initially labelled as coming from the German Bundestag Finance Committee – has caused controversy and tension in Irish-German relations, but an analysis of the facts shows the report does not wholly represent German attitudes towards Ireland.
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July 25, 2014
The Senate Finance Committee this week held a hearing on proposals to reform the taxation of multinational enterprises, and given the recent trend of US companies inverting abroad, the hearing unsurprisingly focused on dealing with inversions.
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July 24, 2014
EXCLUSIVE: On Monday July 21 the OECD released the full version of the Standard for Automatic Exchange of Financial Account Information in Tax Matters, which requires financial institutions to report detailed financial account information to their governments, which then exchange such information automatically with other jurisdictions on an annual basis. The Standard developed by OECD in response to a mandate by the G20 was first presented to and endorsed by the G20 Finance Ministers in February 2014.
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July 22, 2014
Arthur Laffer, renowned economist and inventor of the curve that bears his name, met with International Tax Review to discuss what he would change about US tax policy, why he favours a flat tax and why simplification should be central to tax reform.
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July 22, 2014
Camron Allen, partner at WTS Australia, looks ahead to next year’s corporate tax cut and outlines what taxpayers can do now to plan for the rate reduction.
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July 21, 2014
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July 20, 2014
Campaigners including Christian Aid, Global Witness and Tax Research have hailed the UK government’s proposal to implement a register of beneficial ownership as a world first. But they are now warning that the register may not be accurate if carried forward in line with existing plans.
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July 18, 2014
Medtronic and Covidien announced last weekend that they intend to complete a $43 billion tie-up and fellow US pharmaceutical company, AbbVie, is set to send a formal $31 billion offer for Irish rival Shire today: the trend of inversion transactions out of the US shows no signs of abating.
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July 18, 2014
Despite the recent spate of corporate inversion transactions, not all US taxpayers have caught the inversion bug. Danaher Corporation’s Jim Ditkoff tells International Tax Review “Congress can do whatever they want with inversions as far as I’m concerned”. Here he explains why Danaher is not following the herd by inverting overseas.
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July 14, 2014
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July 14, 2014
The new www.internationaltaxreview.com website went live in late May. Take the opportunity to influence how it develops by completing our survey.
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July 10, 2014
Delivering his first Budget speech today, Arun Jaitley, India’s new finance minister, pledged to maintain a stable tax environment, but disappointed multinational taxpayers by not removing rules on retrospective tax. Indeed, while the majority of the finance minister’s proposals sound business-friendly enough, taxpayers would have liked more concrete detail.
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July 10, 2014
Labour, the opposition political party in the UK, will raise corporation tax if it comes to power after the next election. And Shabana Mahmood, shadow exchequer secretary to the Treasury says her party would also focus on improving tax transparency.
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July 10, 2014
A Swedish committee on corporate taxation has recommended changes to the rules governing interest deductibility. Hundreds of US businesses are not happy with the proposed reforms.
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July 09, 2014
The German government has committed to prepare for the full implementation of the Extractive Industries Transparency Initiative (EITI).
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July 09, 2014
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July 04, 2014
The popularity of corporate inversion transactions has grown considerably in the past few years, with notable examples including Medtronic-Covidien, Actavis-Warner Chilcott, Elan-Perrigo and Liberty Global-Virgin Media. Now shareholders in US companies are asking: “If our rivals are doing this, is it something we should be considering?”
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July 03, 2014
The IMF has stirred up the debate on the global tax system in an important new staff paper, "Spillovers in International Corporate Taxation", which quantifies the knock-on effects of tax competition and shows that the tax bases of developing countries are particularly badly hurt by it.
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July 02, 2014
The OECD’s project on providing ways to tackle base erosion and profit shifting (BEPS) is at the forefront of the minds of tax directors and other stakeholders all over the world right now. But different jurisdictions have different approaches and different agendas in terms of what they want OECD outcomes to look like.
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July 02, 2014
With accusations of cosying up to multinationals and engaging in a race to the bottom, there is an assumption that tax competition is bad. But panellists at the Oxford Business School’s Summer Conference on Tax Competition and BEPS questioned whether the perception matches reality.
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July 01, 2014
One of the most contentious issues being considered as part of the OECD’s base erosion and profit shifting (BEPS) project is the notion of country-by-country reporting (CbCR) of multinational companies’ tax information. Frank Schoeneborn, head of group operational transfer pricing in the finance and accounting division at Merck Group in Germany, steps forward in time to take a hypothetical look at the reporting standard five years after implementation.
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July 01, 2014
The winners of the European Tax Awards 2014 were announced at a dinner in London on May 21.
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July 01, 2014
Jean-Louis Huchant, a former chief financial officer in France, explains what information and support a CFO requires from a tax director to ensure that tax considerations are taken into account, though do not dominate, business decisions.