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Archive

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  • December 2012

    Australia considers lowering GST threshold for online goods

    December 19, 2012

    The Australian government is looking into the possibility of lowering the GST threshold for imported goods purchased online.

  • BAE Systems believes compliance agreement will be key to Australian certainty

    December 19, 2012

    BAE Systems has followed Alcoa’s recent example and successfully negotiated an Annual Compliance Agreement (ACA) with the Australian Taxation Office (ATO).

  • Simpler EU VAT invoicing rules will cut compliance costs

    December 19, 2012

    New EU VAT rules that will simplify VAT invoicing procedures and cut compliance costs for European business will come into effect from January 1 next year.

  • UK approach to bad debt relief has implications across the EU

    December 19, 2012

    Gary Harley, head of indirect tax at KPMG, looks at the implications the UK approach to bad debt relief (BDR) has for EU member states.

  • UK parliamentarians start inquiry into impact of tax, accounting and audit on banking standards

    December 19, 2012

    Key UK tax and accounting compliance initiatives, such as the tax code of conduct for banks and the Senior Accounting Officer (SAO) legislation, as well as International Financial Reporting Standards (IFRS), are all in the sights of the panel set up by the Parliamentary Commission on Banking Standards (PCBS) to look at tax, audit and accounting.

  • UK publishes draft guidance on FATCA agreement

    December 19, 2012

    February 13 is the deadline for any responses to the latest stage of the process for implementing the UK-US agreement on the Foreign Account Tax Compliance Act (FATCA).

  • Vodafone wants Commission to go further with telecommunications VAT reform

    December 19, 2012

    The European Commission yesterday adopted the final proposal in a package of measures that is aimed at making the taxation of telecommunications, broadcasting and electronic services fairer and more business friendly. But Europe’s largest mobile telecommunications company does not believe it goes far enough to ease the administrative burden.

  • IASB rejects new accounting standard for income taxes and country-by-country reporting

    December 18, 2012

    The International Accounting Standards Board (IASB), which is responsible for the development of international financial reporting standards (IFRS), has dashed the hopes of those hoping for better and more transparent rules on accounting for income taxes by saying no to work on a new standard and ruling out a requirement for country-by-country reporting.

  • India continues to expand tax treaty network

    December 18, 2012

    SS Palanimanickam, India’s Minister of State for Finance, in written response to a question in the Rajya Sabha last week, confirmed that India is in the process of signing double taxation avoidance agreements (DTAAs) with 12 countries and tax information exchange agreements (TIEAs) with 34 countries.

  • Switzerland: No more untaxed assets in our banks

    December 18, 2012

    The Swiss Federal Council on Friday issued a statement saying it wants to prevent banks and other financial institutions from accepting untaxed assets by enhancing due diligence requirements.

  • The concept of “back to back loans” under Mexican Income Tax Law

    December 18, 2012

    Karina Perez of PwC explains why Mexican taxpayers must review their financing arrangements to reduce the risk of disputes arising under the back-to-back loans provision of the Mexican Income Tax Law (MITL).

  • The French approach to tax avoidance

    December 18, 2012

    Recent positions taken by the British authorities to seek more taxes from multinationals operating on UK territory such as Amazon, Google or Starbucks have triggered widespread reactions throughout Europe and in the US.

  • European Parliament backs FTT

    December 17, 2012

    The financial transaction tax (FTT) was brought one step closer last week when the European Parliament voted to allow 11 member states to proceed with it under enhanced cooperation.

International Correspondents