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November 2018
November 20, 2018
Multinationals believe preparation for VAT in Bahrain should be easier than in Saudi Arabia and the United Arab Emirates (UAE), despite the fact that Bahrain has not yet released its full VAT legislation.
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November 13, 2018
Tax directors across Europe and the US are glad to hear the EU’s digital tax proposals have been delayed because they “create chaos”, contain too many uncertainties and can be applied in “all sorts of ways”.
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November 09, 2018
Spain’s digital services tax (DST) is slated to enter into force in January 2019, despite the criticism and concerns of multinational technology companies, write Rafael Calvo and Juan Camilo Sánchez of Garrigues, Taxand Spain.
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November 08, 2018
A year after the release of the Paradise Papers, some politicians, tax justice campaigners, and legal professionals believe too little has changed. Actions beyond the BEPS project may be necessary, says one MP.
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November 07, 2018
The taxpayer challenges arising from the EU’s directive on mandatory disclosures for intermediaries (DAC 6) are seemingly countless, writes Christian Kaeser, global head of taxes at Siemens, and Mark Orlic and Arne Schnitger of PwC.
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October 2018
October 31, 2018
A tax director at a FTSE 100 company has said they are puzzled over how the safe harbour in the UK’s proposed digital services tax (DST) will exempt lossmaking companies.
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October 30, 2018
Lidia Adamek-Baczynska and Olga Palczewska of WTS&SAJA dissect the differences between Polish and EU VAT law, the opportunities and difficulties these differences present,, and relevant case law.
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October 29, 2018
Chancellor Philip Hammond has committed the UK to a digital services tax (DST) in the absence of an OECD agreement, turning the rhetoric about an ‘Amazon tax’ into reality.
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October 23, 2018
Law Decree 87 dated July 12 2018 (also known as the 'dignity decree' or 'decreto dignità') was approved by the Italian government in early July 2018 and finally converted into Law 96/2018 by Parliament. It entered into force on August 12 2018.
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October 22, 2018
Brexit negotiations will likely take precedence over all other factors when UK Chancellor Philip Hammond presents his autumn budget, a tax director at a major energy company told ITR, but the situation is very open-ended for tax policy.
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October 17, 2018
Companies, firms and individuals can now enter for the International Tax Review European Tax Awards 2019.
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October 16, 2018
Tax justice campaigner Richard Murphy and renowned economist Arthur Laffer go head to head to debate one of the defining tax issues of the post-financial crisis world: tax competition.
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October 15, 2018
Grant Thornton and BDO have come out in favour of reforming the UK’s auditing market, but the wider industry is divided over the best solution. Josh White investigates.
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October 15, 2018
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October 15, 2018
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October 15, 2018
Glenn Price, head of international tax at Vodafone, talks to Josh White about the risks taxpayers face in an increasingly uncertain world.
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October 15, 2018
Joe Stanley-Smith sits down with Walter Hellerstein, the leading US academic on state and local taxation, to talk about Wayfair chaos, the US and EU’s shared indirect tax maladies and why so much intellectual effort is wasted on corporate taxation.
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October 15, 2018
There has been a seismic shift in global politics in recent years, affecting trade and investment and altering the tax landscape. Anjana Haines reviews the tax prospects in this new era with International Tax Review’s Leading Women in Tax.
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October 15, 2018
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October 15, 2018
ITR Columnist Giles Parsons examines tax certainty and DAC6.
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October 15, 2018
Angela Lang-Horgan analyses how the UK's tax laws will be affected by its impending exit from the EU.
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October 08, 2018
UK taxpayers are still behind schedule on prepping for the rollout of Making Tax Digital (MTD) and the end of traditional VAT returns on April 1 2019, which happens just days after Brexit, according to a recent poll.
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October 03, 2018
The European Union’s Common Consolidated Corporate Tax Base (CCCTB) plan is unlikely to happen, according to some MEPs speaking to International Tax Review.
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October 02, 2018
Dutch Labour MEP Paul Tang has declared that the corporate tax system needs an overhaul amid proposals for a digital tax, but some businesses oppose his vision and expect nothing to change.
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September 2018
September 28, 2018
In Portugal, as in several other EU countries, VATable persons have been struggling to obtain the VAT exemption provided for the intra-EU supply of goods (ICS). Such limitations mainly result from wording of Portuguese domestic provisions equivalent to Article 138(1) of the VAT Directive (Article 14(a), of the RITI), which back the restrictive approach normally taken by the Portuguese VAT Authorities (PTA) when auditing the fulfilment in practice of the legal conditions for this VAT exemption.
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September 28, 2018
Heads of tax at retail companies say they are facing ever-more complex and outlandish claims for revenue from tax authorities around the world.
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September 21, 2018
More than three quarters of attendees at International Tax Review’s Global Transfer Pricing Forum say that EU state aid matters are no longer a focus for them.
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September 20, 2018
Broad wording and a lack of guidance means businesses are struggling with the politically driven digital tax rules introduced by countries such as Italy, Israel and India that risk double taxation.
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September 20, 2018
Taxpayers at the ITR Global Transfer Pricing Forum say they are worried about politically driven taxation of the digital economy – particularly the European Union’s proposed digital services tax (DST).
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September 14, 2018
Greek Prime Minister Alexis Tsipras has announced cuts to corporate tax and VAT in the coming years as the country emerges from years of enforced austerity. But many remain sceptical the cuts will actually happen.
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September 14, 2018
Andersen Global has established a European board of directors for its regional association. This board will be crucial for the organisation and its continued expansion.
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September 10, 2018
IFA’s panel on EU developments was critical of the EU’s digital taxation package and state aid aggression.
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September 06, 2018
Glenn Price, Vodafone’s head of international tax, speaks to ITR about the risks of double taxation in a world without a consensus on how to tax intra-group transactions.
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September 04, 2018
Sophie Chatel, head of the OECD’s tax treaties unit, Liz Chien, vice-president of global tax for Ripple Labs, and Conrad Turley, of KPMG, set out their arguments for the right way to tax digital businesses.
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August 2018
August 31, 2018
Poland’s proposals to introduce an exit tax may unintentionally raise costs for some businesses that regularly operate across borders, warn practitioners.
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August 31, 2018
IFA President Murray Clayson predicts a greater international appetite for a digital profits-based tax and an extended PE concept as he talks to International Tax Review about the 72nd Congress in Seoul.
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August 24, 2018
Proposals for ‘postponed accounting’ to limit cashflow impact in the UK’s guidance on a no-deal Brexit are of some comfort to businesses operating cross-border.
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August 24, 2018
A tax director at a multinational tech company and several tax advisers expect the UK government to quietly drop its plan to cut the corporate tax rate to 17% in a move that could slow the ‘race to the bottom’ trend.
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August 24, 2018
Spain may be forced to claw back huge sums from investors who have benefitted from its tax lease system following a ruling from the European Court of Justice. A final pending judgment from the General Court of the EU is likely to confirm the ECJ’s position.
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August 24, 2018
International Tax Review’s Leading Women in Tax Forum in London shone a spotlight on how building inclusive teams, empowering others and using your network can create an environment where everyone can thrive. Anjana Haines shares some highlights from the day’s discussions.
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August 24, 2018
In-house tax functions are becoming more proactive in how they deal with tax and transfer pricing risks. Anjana Haines collects the view of tax directors on establishing a culture of no surprises.
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August 24, 2018
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August 24, 2018
I don’t know if it is because of my age, or not using social media much, or because I have spent more than 30 years advising companies that actually manufacture physical goods and sell them to customers, but I don’t really understand the current enthusiasm on the part of the OECD, the EU and governments to investigate ways to change the taxation of the ‘digitalised’ economy.
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August 23, 2018
Competition in the consumer goods sector has always been intense and once-traditional retailers are now using an omnichannel strategy in an attempt to keep up with consumer-packaged-goods companies and online superstores like Amazon or Zalando. What is omnichannel retailing?
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August 14, 2018
From EU aggressive proposals to the Wayfair judgment to taxing ‘big data’, a global shift in digital taxation is underway.
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August 13, 2018
The UK runs the risk of losing out on corporate tax revenue if Brexit means the loss of passporting rights and major banks decide to leave. This could become the impetus to raise taxes across the economy.
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July 2018
July 27, 2018
The EU has rejected the UK government’s latest customs proposal and now both sides are ramping up their preparations for a no-deal Brexit. Companies need to be prepared for anything.
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July 20, 2018
The London property market faces the end of tax exemptions from capital gains tax for non-residents and investors are considering launching UK-based structures to make savings in future.
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July 12, 2018
Google’s Head of Trade and Economic Affairs Andrew Ure has stressed the importance of consensus on how to tax the digital economy, saying a multilateral agreement is the only real solution.
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July 12, 2018
Global revenue from carbon pricing rose by 50% in 2017 compared to 2016, says a new report from the World Bank. While companies can expect green taxes to keep rising, this statistic doesn’t quite tell the whole story.
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July 12, 2018
Taxpayers will be able to argue more effectively against transfer pricing readjustments following a key ruling on the arm’s-length principle in the Hornbach-Baumarkt case.
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July 12, 2018
Europe’s leading tax firms dominated this year’s European Tax Awards through innovation and outstanding tax controversy management.
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July 12, 2018
The European Union Commissioner for Competition Margrethe Vestager speaks to Josh White about the EU’s state aid investigations, the future of fair competition and how all multinational companies – not just American ones – need to watch out for her.
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July 12, 2018
The search for a long-term digital tax solution has been compared to an arms race, with the EC vying for the lead role over the OECD, while the UN places its bets.
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July 10, 2018
Value creation is where the problems begin with digital tax. How can you decide where the value is created by the England captain’s World Cup strip? Michael Devereux explores whether it is Russia, England or Bangladesh.
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July 06, 2018
The BEPS Project and the EU Anti-Tax Avoidance Directive (ATAD) are forcing some companies into restructuring, according to a new survey. But many are still waiting for more clarity before they decide their next move.
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July 03, 2018
While the UK government struggles to find an exit deal with the EU, International Tax Review’s Leading Women in Tax Forum take charge of how Brexit may affect UK holding companies.
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July 02, 2018
Duff and Phelps has added Ted Keen as managing director and head of the firm’s European Transfer Pricing practice in London.
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June 2018
June 29, 2018
The state aid decision opens the door for the European Commission (EC) to set a precedent on several points of law, including hybrid loans between EU and non-EU group companies.
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June 27, 2018
Apple has publicly said that it reorganised its tax arrangements after the EU’s state aid investigation. Yet a new study claims Apple may have paid as little as 0.7% in taxes on its European sales since then.
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June 22, 2018
Germany and France have agreed to move the European Union towards a common consolidated corporate tax base (CCCTB), which would transform tax in the bloc. But the measure is not popular everywhere in the EU.
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June 21, 2018
The Supreme Court has thrown the US tax system into chaos by ruling in favour of South Dakota in the Wayfair case. Multinationals around the world face huge tax exposure and smaller businesses which sell online could face ruin.
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June 01, 2018
The UK government’s preferred post-Brexit customs arrangements are deeply unpopular with most of the UK’s exporting and importing business community. New proposals for a 10-mile ‘buffer zone’ in Northern Ireland face heavy political opposition, sending the debate back to square one.
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June 01, 2018
While Amazon, eBay and Fruugo have signed up to HMRC’s new disclosure scheme for VAT fraud, major online marketplaces like Etsy and Alibaba have not. Advisers suspect GDPR may be partly to blame.
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May 2018
May 29, 2018
The US, EU member states and other countries have proposed and/or adopted a limitation rule for the deduction of interest by a corporate taxpayer. Will the OECD try to provide worldwide guidance for interest limitation? Is there an expectation for this guidance in the next several years?
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May 29, 2018
Joe Stanley-Smith talks to Timothy Dyce, deputy commissioner of indirect tax at the Australian Tax Office (ATO), ahead of the imposition of goods and services tax (GST) on low-value goods from July 1.
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May 29, 2018
Josh White speaks to Andersen Global Chairman and CEO Mark Vorsatz about the firm’s ambitions and the long shadow cast by its predecessor.
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May 24, 2018
Implementing digital tax compliance tools are inevitable for corporations as real-time tax reporting gains momentum. But using cloud reporting may expose some tax teams to data risks.
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May 17, 2018
The New Zealand government has released proposals that would require certain foreign sellers, online marketplaces and re-deliverers of goods to register for, collect and return GST on items delivered to a New Zealand address, if the value of the goods is NZ$400 or less, from October 1 2019, write Brendan Brown and Matt Woolley of Russell McVeagh.
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May 17, 2018
Netflix has told International Tax Review that it is "disappointed" with the EU General Court's ruling in the German state aid case concerning the country of origin principle. The company said the judgment leaves service providers vulnerable to differing tax rules.
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May 15, 2018
ITR breaks down the developments that led to the conviction, and subsequent court cases, of former PwC employees Antoine Deltour and Raphaël Halet, who exposed more than 300 multinational enterprises benefiting from sweetheart tax deals with the Luxembourg authorities to avoid taxes in Europe.
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May 11, 2018
Concern is growing among Sweden’s financial services sector about how the EU Anti-Tax Avoidance Directive (ATAD) will affect financing costs, but a tax director at a private equity fund warns that these issues also apply to many more industries.
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May 10, 2018
UK proposals to separate tax and audit functions within the Big 4 accounting firms will not make a difference to the market or the way businesses choose their advisers, a tax director at a major fintech company has told International Tax Review.
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May 03, 2018
Alvarez & Marsal (A&M) Taxand UK has appointed Louise Jenkins and Andrew Ponting, formerly of FTI Consulting, as senior directors in its European tax practice.
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May 02, 2018
Recent tax rulings and judgments of administrative courts in Poland have provided new insight into the concept of fixed establishment in Poland. However, the tax authorities and courts often employ a taxpayer-unfriendly approach.
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May 02, 2018
Germany’s new finance minister seems to have arced in terms of his political progression, starting out as a left-leaning gymnast in the 1980s and evolving into a mainstream politician whose views largely mirror those of his predecessor, Wolfgang Schaeuble.
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May 01, 2018
The UK parliament has voted to force some of the world’s most-used tax havens to set up registers of beneficial ownership. This will necessitate tax planning changes for many companies and individuals.
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April 2018
April 30, 2018
The OECD is seeking a global consensus to tax online companies like Facebook, Google, Microsoft and Amazon, but the European Commission (EC) wants a quick fix while negotiations for a global plan take place. How do these digital tax plans compare?
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April 30, 2018
The US Tax Cuts and Jobs Act and other countries’ responses to it, the BEPS project, various exchange of information agreements, incoming tax treaty changes and national elections are just a few of the obstacles ensuring that tax professionals have plenty of planning on their plates in 2018.
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April 30, 2018
The OECD’s David O’Sullivan opened ITR’s Indirect Tax Forum by talking about the role which web companies can play in collecting VAT and GST. Subscribers and delegates can download his presentation – and those of other speakers, including the EU’s Maria Teresea Fábregas – here.
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April 27, 2018
Following the ECJ ruling in the Deister Holding and Juhler Holding joined cases, the German financial authorities have published a circular invalidating a section of the German Income Tax Act effective from 2007-2011, and softening the provisions applicable today.
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April 27, 2018
LuxLeaks whistleblower Antoine Deltour has told International Tax Review why he thinks the European Commission’s proposal to strengthen protections for whistleblowers across the EU may not get enacted.
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April 23, 2018
The EU Commission’s proposal for a 'significant digital presence' tax is a bold attempt to ring-fence the digital economy, despite the views of some OECD members that this approach is inappropriate.
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April 05, 2018
Should we ignore the bitcoin speculative bubble and hacking scare stories as the fireflies before the technological storm? Could blockchain solve the EU’s €50 billion ($62 billion) VAT fraud menace, and revolutionise tax reporting?
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March 2018
March 26, 2018
The nominees have been revealed for International Tax Review and TP Week’s European Tax Awards.
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March 23, 2018
The European Commission (EC) is determined that tech companies like Facebook and Google don’t get a free ride, but its proposed digital tax plan could create tax risks for both governments and companies.
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March 21, 2018
The OECD plans to achieve an international consensus by 2020 on taxing the digital economy, but this ambitious timeline is unrealistic, say experts. The OECD’s David Bradbury defends the organisation’s approach in an exclusive conversation with International Tax Review.
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March 21, 2018
International Tax Review hosted its first Women in Tax Forum in New York on March 1. The event kick-started a month of celebrating the brilliant female minds in the sector, their take on some of the hottest tax matters, and insight into their leadership skills and how to be the best.
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March 21, 2018
Geoff Peck, executive officer and chief taxologist at PawPaw Taxology, dives deeper into how tax leaders can approach tax technology with better clarity and assurance than they do today.
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March 21, 2018
Businesses love certainty. It allows them to plan and act on short, medium, and long-term strategies. The unexpected brings operational complexities they do not need. Recently, as taxation of the digital economy gathers pace it is a case of ‘expect the unexpected’ for digital businesses operating globally. Taxamo’s Iman Deschâtres and JP McCarthy explore the topic.
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March 20, 2018
The EU’s Economic and Financial Affairs (ECOFIN) Council has unanimously agreed on tax avoidance disclosure rules for intermediaries. For those selling tax avoidance schemes, the move is a game-changer. Both in-house and private practice tax advisers could be caught out by the rules.
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March 19, 2018
ITR's research team has begun work on the Tax Controversy Leaders guide, Indirect Tax Leaders guide and Women in Tax Leaders guide. This is your chance to nominate the individuals who offer the best tax advice.
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March 07, 2018
There is growing evidence that the EU Commission will publish two proposals on the taxation of the digital economy and digital business models on March 21 2018.
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March 06, 2018
The remarkable position of the Italian Revenue Agency about the application of VAT to financial services represents an important legal precedent across the European Union.
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February 2018
February 28, 2018
On February 23 2018 the Danish government presented a draft bill expresly stating that non-Danish investors carrying out long-term investment activity – for example through private equity, venture or infrastructure funds – will not have a permanent establishment in Denmark.
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February 27, 2018
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February 27, 2018
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February 27, 2018
Judging by the speeches at the World Economic Forum in Davos, political and business leaders are concerned by the changing dynamics of international tax competition and there can be no doubt that the ‘race to the bottom’ is on.
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February 27, 2018
Litigation between taxpayers and authorities is growing worldwide, but a successful outcome is never easy for any party involved in a conflict. Anjana Haines investigates why tax disputes are rising and how to potentially ease the burden.
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February 27, 2018
A significant amount of developments have taken place in the past few years, writes Rose Boevé of EY Dutch Caribbean. This includes a surge in cryptocurrencies and in the accompanying regulatory playing field.
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January 2018
January 30, 2018
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January 30, 2018
The European Commission’s Director General for Taxation and Customs Union tells International Tax Review about how the European Commission is pushing ahead with its plans for a digital tax framework, how it will work with OECD initiatives, and the emerging industries and technologies making their mark.
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January 30, 2018
Margaret Hodge, UK MP for Barking, who chairs the All Parliamentary Party Group (APPG) on Responsible Tax, speaks to International Tax Review about the Paradise Papers and how best to tackle tax avoidance in a modern global economy.
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January 30, 2018
The development of artificial intelligence (AI) and, in particular, of robots is an issue of global significance. Xavier Oberson, professor at the University of Geneva and a specialist in this area examines the societal change towards the use of robots and how to tax them.
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January 25, 2018
In his speech to the World Economic Forum in Davos, Google CEO Sundar Pichai declared that the tech company is “happy to pay more” in taxes and called for the international tax system to be reformed. His comments come during heightening international debate on how to fairly tax the high-tech economy.
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January 24, 2018
On January 8 2018, the legislation setting the UK’s post-Brexit customs and VAT regimes passed its second reading in the House of Commons. The preliminary statute prepares the country to take full governorship of its customs and VAT regimes from 30 March 2019, when the UK is scheduled to depart the European Union (EU).
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January 23, 2018
The deadline to submit for the European Tax Awards is fast approaching. Companies, firms and individuals working in jurisdictions across Europe should enter now.
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January 22, 2018
In a move which seemingly vindicates the tax cuts in the US tax reform bill, Apple has announced it will be expanding its US operations. But this may just be the tip of the iceberg, as some of the biggest companies in the world are looking to follow Apple’s example.
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January 11, 2018
The Irish government has declared its first budget surplus in a decade and many observers have attributed this to corporate tax receipts, but Facebook’s decision to change its business model poses risks to government coffers if other MNEs follow suit.
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January 02, 2018
The US’s long-awaited tax reform has brought the country’s corporate tax rate down to 21% - below 2017’s OECD average rate of around 25%. Will this spark a new wave of tax competition?