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December 09, 2013
Companies and firms can enter for the European Tax Awards 2014 from today. Entry information is now available in hyperlinks throughout this story.
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December 05, 2013
George Osborne, UK Chancellor of the Exchequer, today unveiled his Autumn Statement. Anti-avoidance measures dominated, with Osborne promising they will raise £9 billion ($15 billion) over five years.
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December 04, 2013
Only a few weeks to go before the start of the new year. This is the time to check whether taking action before January 1 2014 could give you a tax advantage. Here are 11 tax tips and points to note for international companies covering various Dutch tax areas.
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December 03, 2013
Palaniappan Chidambaram, India’s Minister of Finance, spoke exclusively to International Tax Review about India’s increasingly non-adversarial approach to taxation and reducing uncertainty in the corporate tax environment.
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December 03, 2013
Speaking exclusively with International Tax Review, Palaniappan Chidambaram, India’s Minister of Finance, revealed the long-awaited Direct Taxes Code (DTC) is ready and that he hopes to pass the DTC Bill before the end of this parliamentary term.
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December 03, 2013
The annual pre-Autumn Statement rumour mill for the UK has been churning furiously and issues such as avoidance, business rates, capital gains tax and employment taxes will all probably get at least a mention in Chancellor George Osborne’s speech. However, many advisers are expecting few changes and are hoping instead for stability and certainty to be the two overriding themes of the statement.
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November 28, 2013
The British public believes corporate tax avoidance is the number one ethical issue that business needs to address.
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November 27, 2013
Oliver Rosenberg, partner at Linklaters in Dusseldorf, summarises a June decision of the Federal Tax Court (FTC) which clarifies the interpretation of Article 1 paragraph 7 and Article 2 paragraph 10 of the Germany/US Income and Capital Tax Treaty (1989) (amended 2006) (DTT US 2006). Article 1 paragraph 7 of the DTT US 2006 is particularly relevant and important for the treatment of hybrid entities under the treaty.
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November 26, 2013
Max Baucus, chairman of the US Senate Finance Committee, has released a discussion draft outlining his proposals for US corporate tax reform, including provisions that would drastically alter the tax treatment of income earned by controlled foreign corporations (CFCs). Business has reacted badly to the draft, having lobbied for greater repatriation relief than Baucus is offering.
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November 26, 2013
After the release of Senate Finance Committee chairman Max Baucus’ discussion draft outlining his proposals for US corporate tax reform, Jim Ditkoff, senior vice president – finance and tax – at science and technology company Danaher Corporation, analyses the proposals and explains why companies like Apple and Google may regret some of their lobbying efforts.
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November 26, 2013
The European Commission (EC) hopes to “significantly reduce tax avoidance in Europe” through proposed amendments to EU corporate tax legislation which would shut down loopholes in the Parent-Subsidiary Directive.
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November 26, 2013
Fewer tax planning schemes were reported to HM Revenue & Customs (HMRC) in the year to September 2013 than in any of the past 10 years.
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November 21, 2013
ActionAid has slammed Barclays, the UK bank, for promoting the use of tax havens in Africa, accusing the bank of hypocrisy and a failure to deliver on public promises that it wants to become a “force for good”. Deloitte has also incurred the wrath of the tax justice group.
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November 21, 2013
Companies that pay taxes in Central Asia and Eastern Europe will be pleased to find out their compliance burden has come down the most in the nine-year history of the Paying Taxes survey, according to this year’s version of the research, which was compiled once again by PwC, the World Bank and the International Finance Corporation (IFC).
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November 18, 2013
Mexico’s Congress has passed a tax reform measure which would see the imposition of a new dividend tax and a new tax mailbox system, among other changes. The legislation awaits President Pena Nieto’s signature.
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November 14, 2013
Business leaders have pleaded with Russian President Putin to reassess proposed amendments to the Criminal Code which would allow investigators to open tax cases at their own discretion.
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November 13, 2013
Hungary has become the 61st signatory to the OECD’s Convention on Mutual Administrative Assistance in Tax Matters.
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November 13, 2013
The Indian Ministry of Finance has notified Cyprus that it is being treated as a “notified jurisdictional area” under section 94A of the Income Tax Act (ITA) 1961.
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November 13, 2013
US Senators Jack Reed and Charles Grassley have introduced legislation to close a loophole that allows companies to claim tax deductions on penalties and fines paid to the federal government after a JPMorgan Chase settlement highlighted the provision.
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November 12, 2013
Oliver Rosenberg, partner at Linklaters in Dusseldorf, discusses the treatment of interest payments from a German partnership to its foreign partners, including why there is an increased risk of double taxation as a result of the new section 50d paragraph 10 of the German Income Tax Act (ITA).
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November 12, 2013
In a public consultation on transfer pricing matters in Paris today, the OECD questioned the realities of implementing country-by-country (CBC) reporting, with business harbouring concerns over the confidentiality of information disclosed under the method.
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November 12, 2013
Philip McCarron and Susan Fadil of TMF Group’s UK Corporate Secretarial team analyse the impact of the UK’s hunt for phantom companies on the country’s company registration practices.
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November 06, 2013
Chile has become the 59th signatory to the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
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November 06, 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.
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November 06, 2013
A report from PwC shows that most people in the UK view an overseas business moving its headquarters to the country as a positive sign, despite some of the negative press reaction to foreign companies such as Starbucks availing themselves of the benefits of being in the country but not contributing a “fair” level of tax.
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November 05, 2013
David Cameron, UK Prime Minister, has announced a proposal for a register of company ownership, to “shine a spotlight on who owns what and where money is really flowing”.
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November 05, 2013
One of the commitments in the base erosion and profit shifting (BEPS) action plan is to counter harmful tax practices. Jeffrey Owens believes negotiators should look for some clues for how to do this in the OECD’s 1998 report on harmful tax competition.
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November 04, 2013
Michael Devereux, the director of the centre for business taxation at the University of Oxford, has described the international tax system as “a confused, complex mass of arbitrary, arcane and illogical rules”.
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October 29, 2013
Al Groff, Washington DC based partner at Shearman & Sterling, shares his insights into the year ahead, outlining an optimism for US tax reform that is not shared by all, concerns about reporting obligations, and hopes for a continued pick-up in deal activity.
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October 29, 2013
The internet has made international borders inconsequential for e-commerce and business transactions, leaving countries with the challenge of developing a workable tax policy for those online dealings.