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Corporate Tax

News In Brief

  • Osborne hands HMRC greater powers to clamp down on tax haven use

    April 16, 2014

    UK Chancellor of the Exchequer George Osborne is granting HMRC new powers to prosecute those who evade taxes by stashing money offshore. The tax authority will no longer have to prove that a taxpayer intentionally evaded taxes.

  • Starbucks moving European HQ to London

    April 16, 2014

    Starbucks is set to pay more tax in the UK after today announcing it will move its European headquarters from the Netherlands to London. It has also pledged to create 1,000 new jobs in the country.

  • European decision in Felixstowe Dock to cause more changes to UK law

    April 15, 2014

    The European Court’s decision in the Felixstowe Dock case is likely to affect the UK regime for loss surrender in at least two ways, explains Rupert Shiers of Hogan Lovells.

  • Investment funds could be in the money after European court ruling against Poland

    April 11, 2014

    A European Court of Justice decision in favour of a US investment fund could cost EU member states billions of euros in withholding tax reclaims.

  • India: Shome reform committee report due next month

    April 10, 2014

    The Parthasarathi Shome-led Tax Administration Reform Commission (TARC) will next month release its first report since being set up to review existing tax administration mechanisms in India and make recommendations for improvement.

  • Macquarie joins calls for 25% Australian tax rate

    April 10, 2014

    After similar pleas throughout the past year, most recently from the Australian Tax Institute last month, Macquarie Group has now joined the calls for Australia to reduce its corporate tax rate. Macquarie says a 25% rate is necessary if Australia wants to become a regional financial services hub.

  • Nominations announced for European Tax Awards 2014

    April 10, 2014

    Deloitte and EY lead the race for International Tax Review’s 10th annual European Tax Awards, which will be presented at a dinner in London on May 21.

  • Russia: First hard-line draft law on CFC rules and corporate tax residency is out

    April 09, 2014

    On March 18, a few months after Putin’s address on the ’de-offshorisation’ of the Russian economy, the Finance Ministry published the first draft law on anti-avoidance rules. Artem Toropov of Goltsblat BLP explains how the draft law has already sent ripples through the Russian business community.

  • Revised Indian DTC takes aim at Vodafone-style transactions

    April 02, 2014

    The Indian government has released a revised version of the Direct Taxes Code (DTC) for public comment. One provision that stands out is aimed at bringing indirect share transfer transactions into the tax net.

  • Wyden tackles extender provisions

    April 02, 2014

    Ron Wyden, Senate Finance Committee chairman, has released a tax extenders Bill. Business lobbyists will be delighted that extender provisions (various tax breaks that expired at the end of last year) are receiving attention sooner rather than later, while House Republicans may view this as a blow to their hopes for comprehensive action on tax reform.

  • Adopting an Irish parent

    March 28, 2014

    From management consultants Accenture, to major pharmaceuticals including Perrigo, Forest Labs and Warner Chilcott, to manufacturer and equipment supplier Eaton Corporation to one of the world’s leading insurance groups, Willis, the shift to adopting an onshore Irish incorporated tax resident parent is gathering pace. Mason Hayes & Curran considers the rationale for such a shift and the long-term value creation for shareholders yielded by the shift.

  • Argentina signs new tax treaty with Switzerland

    March 27, 2014

    Argentina has signed a new double tax treaty with Switzerland. The original accord was terminated in 2012, when Argentina also unilaterally terminated its treaties with Chile and Spain.

  • Big leap for European automatic information exchange after Austria and Luxembourg drop directive veto

    March 27, 2014

    After Luxembourg and Austria removed their longstanding veto to the move, the European Council this week strengthened EU rules on exchange of information on savings income, meaning member states will be better equipped to stamp out cases of tax fraud and tax evasion.

  • M&A and corporate taxpayers in light of the BEPS initiative: Part II

    March 27, 2014

    In part II of this article looking at M&A tax planning in light of recent BEPS developments, Napoleão Dagnese and Christoph Huber of OC Oerlikon analyse methods of allocating a global purchase price.

  • Debt/equity financing: Application of the Dutch participation exemption

    March 20, 2014

    Denis Pouw, partner at WTS Netherlands, analyses two recent rulings from the Dutch Supreme Court dealing with debt versus equity financing, and provides clarity on the applicability of the country’s participation exemption regime.

  • M&A and corporate taxpayers in light of the BEPS initiative

    March 20, 2014

    Tax planning in M&A transactions starts long before a transaction appears on the horizon and continues long after the deal is completed. Key challenges for the tax function are explored by Christoph Huber and Napoleão Dagnese of OC Oerlikon, a traditional Swiss multi-industries conglomerate with a footprint in 34 countries.

  • UK Budget: Welcome certainty for business as lobbying efforts pay off

    March 19, 2014

    Taxpayers craved certainty from the UK budget today and that is broadly what they got. George Osborne, the chancellor of the exchequer, even resisted the temptation to increase the bank levy, a regular measure in recent budgets, though the charge itself is set for a redesign.

  • Tax changes seek to boost Czech investment prospects

    March 18, 2014

    Changes to the Czech Republic's tax system, such as the possibility of selling securities tax free, are aimed at making the jurisdiction more attractive to foreign investors.

  • EXCLUSIVE: Pascal Saint-Amans defends OECD’s Common Reporting Standard despite loopholes identified by TJN

    March 13, 2014

    By shining a spotlight on loopholes and failing legislation, the Tax Justice Network has been at the fore of global tax policy development in recent years. In its latest report, it praises the OECD’s work on automatic information exchange, but identifies areas for improvement.

  • Australia’s Tax Institute puts pressure on Abbott to cut 30% tax rate

    March 12, 2014

    Australian businesses will see their tax burden fall if The Tax Institute gets its wish. The Institute has called on Australian Prime Minister Tony Abbott to cut the corporate tax rate to 25% in line with recommendations made in the Henry Review.

  • Cooperative compliance and enhanced relationships in Italy: Part II

    March 12, 2014

    In the second of a two-part series, Riccardo Petrelli and Simone Zucchetti of Tremonti Vitali Romagnoli Piccardi e Associati look at how existing regimes and pilots will influence the future of enhanced cooperation procedures in Italy.

  • UK Budget preview: Energy and banking sectors on alert

    March 12, 2014

    Next week’s UK Budget could bring good news for energy companies after the energy minister this week hinted at incoming tax relief measures, though it is unclear if intensive lobbying against the bank levy is going to pay off.

  • BEPS is not the only concern for Asia’s tax executives

    March 10, 2014

    The G20 / OECD project on BEPS is likely to preoccupy tax executives over the next two years, even in jurisdictions that do not belong to either group.

  • Obama and Camp tax plans show distance left to travel on US tax reform

    March 07, 2014

    Reform of the US tax system is still a long way off judging by the differences between the proposals in the 2015 Budget which President Obama released this week and the plan of Dave Camp, the House Ways and Means Committee chairman, which came out a week earlier.

  • Cooperative tax compliance and enhanced relationships in Italy

    March 06, 2014

    In the first of a two-part series looking at cooperative tax compliance and enhanced relationships in Italy, Simone Zucchetti and Riccardo Petrelli of Tremonti Vitali Romagnoli Piccardi e Associati look at the options already available to taxpayers in the country.

  • Developing countries urged to pay attention to BEPS

    March 05, 2014

    Heads of tax and tax administrators should look to expand the G20 / OECD BEPS project and make it more inclusive, the World Bank’s top tax official has said.

  • Secondments to India: Beware of the tax traps

    March 05, 2014

    A number of widely different tax rulings on secondment arrangements for expatriate staff working in India can mean uncertainty for firms setting up in the country. Sudhir Nayak of Nexia International member firm SKP Group in India, discusses some of the recent controversies.

  • Business Roundtable calls for tax reform pressure to be maintained following Camp’s discussion draft

    February 28, 2014

    The US tax reform discussion draft from Dave Camp, chairman of the House Ways and Means Committee, achieves two key goals for business, says John Engler, the leader of one of America’s most influential employers’ organisations: a corporate tax rate of 25% and a modern tax system.

  • Chidambaram brings Indian DTC Bill back into focus

    February 28, 2014

    While this month’s interim Budget in India was merely a vote-on-account and went largely unheralded in the corporate tax world, Finance Minister Palaniappan Chidambaram did make pledges regarding the Direct Taxes Code (DTC) and goods and services taxation (GST).

  • The unique challenges facing US inbound companies

    February 28, 2014

    Tax departments around the world are facing growing demands to do more with fewer resources. Joel Walters, inbound tax leader for PwC US, explores how in-house teams can successfully navigate the new corporate tax landscape in light of increased scrutiny on tax planning processes, reporting requirements and compliance initiatives.

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