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Corporate Tax

News In Brief

  • Thinking in the box – but should it be the UK Patent Box or the Dutch Innovation Box?

    June 11, 2013

    The popularity of patent box regimes is on the rise as countries compete to attract investment. The most recently introduced regime was the April 1 implementation in the UK. Hogan Lovells’ tax team compares this new regime with the Netherlands’ long-standing Innovation Box.

  • UK debt-for-equity swaps to become taxable under HMRC proposal

    June 11, 2013

    The UK tax authority has published a consultation paper to seek stakeholder feedback on its proposals to modernise the taxation of corporate debt and derivative contracts. But the paper also features a proposal that could end companies’ ability to perform tax-free debt-for-equity swaps.

  • Ways & Means chairman Dave Camp to examine US BEPS issues

    June 11, 2013

    United States House Ways & Means Committee chairman Dave Camp will hold a hearing on Thursday to examine US and foreign multinationals’ use of tax havens to avoid tax and shift profits outside of the US.

  • Tax technology in Brazil: Shifting the burden of tax audits to taxpayers

    June 10, 2013

    Dealing with corporate taxes in Latin America has been a significant challenge for corporations for a long time, especially in Brazil. Cristina Sampaio Cavalieri Teixeira, managing partner at GR8 Tax & Finance Consulting, and former Latin America tax director and Brazil Finance Director at DuPont, explores the increasing burdens being placed on taxpayers.

  • Analysing the new China – Netherlands tax treaty

    June 06, 2013

    On May 31 2013, China and the Netherlands signed a new double taxation avoidance treaty which will come into effect in 2014.

  • German Min Fin could introduce patent box to compete with others in Europe

    June 06, 2013

    German state tax ministers are concerned about the country’s potential loss of competitive advantage because of new intellectual property tax incentives being offered by other EU member states such as the UK.

  • US industry bodies lobby Obama to take tax message to G8

    June 06, 2013

    Industry organisations in the US have urged President Barack Obama to prioritise the international competitiveness of worldwide American companies by championing tax policies to that end at the G8 summit later this month.

  • Why India is at a critical stage in tax policy development - India Tax Forum 2013

    June 05, 2013

    The Indian economy grew by 5% in 2012. Outstanding by anyone’s standards, except China’s, but not enough if the country wants to create prosperity for all of its more than 1 billion citizens.

  • Will German REITs be subject to regulation under the AIFM-Directive?

    June 05, 2013

    Germany is in the final stage of implementing the Alternative Investment Fund Managers Directive (AIFM-Directive), with implementation due by July 22 2013. But German real estate investment trusts (REITs) could be subject to new regulation, too.

  • Deadline approaching for tax planning changes in India

    May 29, 2013

    Multinationals with operations in India have only a few days to act before a newly proposed provision in India's new Finance Bill will affect their tax planning.

  • Perceived avoiders declare support for tax reform

    May 29, 2013

    Multinational companies Apple and Google, which have been accused of tax avoidance by a number of governments, say they want to see the tax laws changed.

  • Changes to UK partnership tax rules could cause headaches

    May 28, 2013

    The UK government is holding a consultation on how to change two aspects of its partnership tax rules, with the aim of preventing tax loss arising from when employment relationships are disguised through limited liability partnerships (LLPs) and from certain arrangements involving profit and loss allocation among partnership members.

  • EU tax transparency reforms expanded to all large companies

    May 28, 2013

    The EU is seeking to extend tax transparency reforms for banks and resources groups to all large public and private companies. The move to install country-by-country reporting (CBCR) disclosure requirements on companies is part of the EU’s crack-down on aggressive tax avoidance and evasion.

  • Legal & General: Why we support greater transparency in tax reporting

    May 23, 2013

    Legal & General won PwC’s 2012 Building Public Trust award for the best tax reporting in the FTSE 100. The company’s tax team explains its approach to tax transparency and tax reporting, including why it has published country-by-country analysis of taxes borne and collected.

  • BCA brands Australian budget "lost opportunity"

    May 21, 2013

    The Business Council of Australia (BCA) has criticised last week's Australian budget, saying the business tax measures announced fall short of what business wants and may hamper investment, and that tax changes should be implemented as part of a more comprehensive process.

  • Google hauled before UK PAC again, but international tax framework cited as real villain

    May 21, 2013

    Google vice president Matt Brittin was called back to give evidence in front of the UK Parliament’s Public Accounts Committee (PAC) last week, after its members were unsatisfied with his responses in the November hearing alongside Amazon and Starbucks. PAC chairwoman Margaret Hodge accused the company of “doing evil” but many believe international tax rules are to blame for perceived aggressive avoidance.

  • SAT provides guidance on companies’ secondments in China

    May 21, 2013

    China’s State Administration of Taxation (SAT) has issued guidance to help taxpayers understand the tax authority’s assessment of how secondment arrangements should work.

  • Hodge’s PAC blasts HMRC officials for “lousy judgment”

    May 20, 2013

    Margaret Hodge, chairwoman of the House of Commons’ Public Accounts Committee (PAC) tore into HM Revenue & Customs (HMRC) officials on Thursday, accusing them of “lousy judgment” and branding them “not fit for purpose”.

  • Margaret Hodge calls for HMRC to become more aggressive

    May 20, 2013

    The chairwoman of the UK Parliament’s Public Accounts Committee said that HM Revenue & Customs (HMRC) is not being aggressive enough in pursuing the public interest by combating tax avoidance by large companies.

  • Tax compliance rules aimed at multinationals involved in UK public sector procurement

    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.

  • Australian budget restricts companies’ room for manoeuvre

    May 14, 2013

    With the backdrop of an increasing budget deficit in an election year, Julia Gillard’s Labor Government has targeted large corporates, multinationals and the mining industry in an attempt to raise additional revenue. Leon Mok, executive director at Baker Tilly Pitcher Partners, outlines the key measures proposed in the Australian federal budget affecting the corporate and international space.

  • Baucus and Camp diversify tax reform approach with new website

    May 14, 2013

    The main driving forces behind tax reform attempts in the US Congress - Max Baucus and Dave Camp - have launched a new website to increase stakeholder engagement in the tax reform process.

  • Brazil’s income tax exemption on dividends

    May 14, 2013

    Cristiane Magalhães and Fernanda Fiasco Ribeiro, of Machado Associados, explore a recent opinion (Opinion 202/2013) issued by the Office of the Attorney General of the National Treasury (PGFN) about the tax exemption applicable to the distribution of profits and dividends established by Article 10 of Law 9249/95.

  • Norway to reform corporate tax regime

    May 14, 2013

    Norway is to implement changes to the corporate tax regime in a bid to stimulate investment and maintain competitiveness with other European countries, with a company tax cut and an increased depreciation allowance on the horizon.

  • The collateral damage of the fight against tax avoidance and evasion

    May 09, 2013

    TAXPAYER OPINION: Since the beginning of the financial crisis, governments and mainstream media have increasingly been moralising about tax compliance. Frederic Gourlot, tax manager at a leading multinational electric utility company, based in France, explores the wider consequences of such moralising for taxpayers.

  • Australian Industry Group lobbies for corporate tax cut in budget

    May 07, 2013

    The Australian budget 2013-14 is one week away, and while taxpayers want a corporate tax cut, they should prepare for tightened thin capitalisation rules and a reformed research and development (R&D) tax incentive, though there is good news regarding exploration.

  • CBI proposes tax principles for UK businesses

    May 07, 2013

    The Confederation of British Industry (CBI) has today released a list of seven tax principles for UK businesses.

  • Survey reveals further taxpayer pessimism about US tax reform

    May 07, 2013

    Ernst & Young is the latest organisation to dampen US tax reform spirits, producing a survey which indicates that pessimism regarding reform among corporate and tax executives has never been higher.

  • KPMG Treasury secondee behind UK patent box hits back at PAC criticisms

    May 03, 2013

    When KPMG’s Jonathan Bridges finished a Treasury secondment to help design the patent box, he thought he would resume life as a corporate tax adviser at the Big 4 firm without much fanfare. He did not expect to be outed as the prime example of what some UK MPs believe is a rotten system that allows secondees to return to their firms and advise clients to get around legislation they created. But Bridges, singled out for criticism by Parliament’s Public Accounts Committee (PAC), denies he sought out loopholes for clients to exploit.

  • France in capital gains tax U-turn

    April 30, 2013

    The French government has performed a U-turn which sees a reversal of the planned increase in capital gains tax (CGT). President Francois Hollande said he is correcting a “misunderstanding”.

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