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  • October 2012

    Latin America Indirect Tax Focus

    October 31, 2012

    A series of articles from KPMG's Global Indirect Tax Services's group on indirect tax developments in Latin America. Each article covers one of 21 jurisdictions, from Argentina to Venezuela.

  • Future Focus: Tax and transformation in Iberoamerica's new business reality

    October 31, 2012

    A series of articles from KPMG looks at the complex challenges facing tax directors who want to re-imagine their operations and reshape their long-term strategies.

  • Australian Taxation Office reviewing use of compliance risk assessment tools

    October 31, 2012

    Ali Noroozi, Inspector-General of Taxation (IGT) at the Australian Taxation Office (ATO), today announced the terms of reference for his review into the ATO’s use of compliance risk assessment tools, calling for stakeholder submissions.

  • FATCA is not going away but there is still hope it could be reformed

    October 31, 2012

    When the US Treasury Department and Internal Revenue Service (IRS) announced the postponement of key dates in the implementation of the Foreign Account Tax Compliance Act (FATCA), foreign financial institutions breathed a sigh of relief.

  • Hong Kong-Switzerland DTT analysis

    October 31, 2012

    Since Hong Kong amended its tax law in 2010 to enable the adoption of the latest OECD information exchange standards in its tax treaties, it has made several moves to negotiate new treaties, and a double tax treaty with Switzerland is the latest such development.

  • Latin America Indirect Tax Focus

    October 31, 2012

    A series of articles from KPMG's Global Indirect Tax Services's group on indirect tax developments in Latin America. Each article covers one of 21 jurisdictions, from Argentina to Venezuela.

  • New Netherlands government backs FTT

    October 31, 2012

    Despite previous opposition to a financial transaction tax (FTT), the Netherlands appears to be coming round to the idea after a new coalition government was formed this week.

  • Two disputes throw future of EU VAT on e-books into disarray

    October 31, 2012

    The European Commission is launching infringement proceedings against France and Luxembourg over their reduced rates on e-books, while a law firm is taking HM Revenue & Customs (HMRC) to court over charging VAT on e-books at all.

  • Australian Business Tax Working Group fails Swan

    October 30, 2012

    The Business Tax Working Group (BTWG), appointed by Treasurer Wayne Swan in 2011 to explore ways in which a corporate tax cut could be funded from within the business tax system, has produced its draft final report, saying it is “unable to recommend a revenue neutral package to lower the company tax rate”.

  • Hong Kong property tax may deter development

    October 30, 2012

    The Hong Kong government has announced new taxes for non-residents and corporate buyers of property in the jurisdiction.

  • RATE Coalition goes on campaign trail to speed up US reform

    October 30, 2012

    President Barack Obama and his Republican opposite Mitt Romney are not the only ones travelling the length and breadth of the country to try and raise support for their campaign. The RATE Coalition, a bipartisan coalition of businesses and associations, has also been touring the states advocating US tax code reform.

  • Victor Ponta eyes sharp VAT cut in Romania

    October 30, 2012

    Romanian Prime Minister Victor Ponta wants to reduce VAT to 20% just two years after it was increased to 24%. But advisers are sceptical that this can be achieved.

  • Deals of the week - October 29 2012

    October 29, 2012

  • Treaties of the week - October 29 2012

    October 29, 2012

  • What you have missed on ITR Premium

    October 29, 2012

    Financial institutions given more time for FATCA implementation; Shome discusses impact of expert committee report; Amazon's actions provoke calls for VAT reform; and How the FCE Bank ruling could help claimants behind M&S

  • Scott Wilkie makes another move in Canada

    October 26, 2012

    Scott Wilkie, one of the most recognised names in the Canadian tax market, has joined Blake, Cassels & Graydon as a partner in the firm's Toronto office.

  • Australia: The time to pay your corporate tax is changing

    October 25, 2012

    Companies must prepare for changes to the corporate tax payment deadline in Australia because of government reforms.

  • Michael D’Ascenzo to leave ATO

    October 25, 2012

    Michael D’Ascenzo, a leading figure in multilateral cooperation against offshore tax evasion, is stepping down as the Commissioner of the Australian Taxation Office (ATO) at the end of 2012, when his seven-year term is up.

  • Financial institutions get more time to implement FATCA

    October 24, 2012

    The Treasury Department and Internal Revenue Service (IRS) in the US has announced the postponement of some key dates for the implementation of the Foreign Account Tax Compliance Act (FATCA).

  • Government hopes for GST met with scepticism from Indian tax community

    October 24, 2012

    An IT network to establish GST in India is expected by the end of the financial year, says a finance ministry official, but the tax industry is tired of missed deadlines and is not getting its hopes up.

  • Amazon’s monopolistic charges to e-book publishers suggest need for EU VAT reform

    October 23, 2012

    UK publishers are concerned that Amazon is charging them 20% VAT on e-books even though the online retailer only has to pay 3% itself. But Amazon’s monopoly means digital publishers can do little to level the playing field without wider reform.

  • European Commission proposes Council Decision on FTT

    October 23, 2012

    The financial transaction tax (FTT) is set be introduced by 11 EU member states after they officially applied to the European Commission to proceed under enhanced cooperation.

  • Michael Anderson to lead KPMG’s new direct tax litigation practice

    October 23, 2012

    KPMG has appointed Michael Anderson from Dorsey & Whitney to fill the firm’s newly-created position as head of direct tax litigation in the UK.

  • OECD publishes latest proposals regarding beneficial ownership

    October 23, 2012

    The OECD has published proposals regarding possible revisions of the rules to determine the beneficial owners of dividends, interest and royalties.

  • OECD’s transparency forum expands in Africa

    October 23, 2012

    The OECD’s Global Forum on Tax Transparency has welcomed its two newest members – Burkina Faso and Cameroon.

  • Portuguese corporate taxpayers hit by austere budget changes

    October 23, 2012

    Portugal’s draft 2013 budget, released last week, has sparked unrest and protest because of the extreme austerity measures it included. While most of the anger stems from individual taxpayer provisions, corporates have not escaped unscathed either.

  • Shome discusses impact of expert committee report

    October 23, 2012

    The report of Parthasarathi Shome and his expert committee, which recommended that retrospective application of the tax law should only be used in the “rarest of rare” cases has been welcomed by taxpayers craving certainty in their Indian tax affairs. International Tax Review speaks with the author about the likely implications of his report.

  • Deals of the week - October 22 2012

    October 22, 2012

  • Treaties of the week - October 22 2012

    October 22, 2012

  • What you have missed on ITR Premium

    October 22, 2012

    US banks' effective tax rates; Starbucks, tax and CSR; Business Roundtable criticises Washington; Sales tax struck down in Egypt; Portugal's plans for FTT; Canadian Supreme Court favours GSK; How to manage tax disputes in Italy

  • Accounting for interim taxes: After all, it's just a quarter...

    October 19, 2012

    October 15 is behind us, and many tax professionals are taking a much needed break. It’s time to relax for a day, watch the sun set, or maybe even eat something that did not come in a take-out bag. That sounds amazing…

  • Starbucks scandal could force tax onto CSR agendas

    October 18, 2012

    Starbucks has gone to great pains to boost its corporate social responsibility (CSR) credentials by trumpeting fair trade products and environmentally sustainable practices, but after a scandal over the amount of tax it pays in the UK sullied its reputation, other companies may look to avoid its mistake by placing tax at the heart of their CSR agendas.

  • UK firm GSC adds tax barrister to ranks

    October 18, 2012

    GSC Solicitors has boosted its tax department with the addition of tax barrister Tessa Lorimer from the Crown Prosecution Service’s (CPS) central fraud unit.

  • FATCA: the US/UK agreement - be thankful for small mercies

    October 17, 2012

    The Agreement entered into between the UK and the US, on September 12 2012, to implement FATCA, undoubtedly simplifies the process of complying with the legislation for UK financial institutions.

  • Goldman Sachs and Bank of America reveal big difference in effective tax rates

    October 17, 2012

    The effective tax rates of two of the biggest US banks varied wildly this year, according to results out this week.

  • Portugal reveals FTT plans in draft 2013 budget

    October 17, 2012

    Portugal unveiled its draft 2013 budget on Monday amid protests from a dissatisfied public. The draft includes a proposal to introduce a financial transactions tax (FTT).

  • US VAT may be required to fund tax reform

    October 17, 2012

    With both President Obama and Republican Mitt Romney advocating a corporate tax rate reduction, along with a raft of other changes to the tax code achieved in a revenue-neutral manner, offsetting measures are going to be necessary, and a VAT could be one solution.

  • Business Roundtable accuses Washington of letting business down

    October 16, 2012

    John Engler, Business Roundtable (BRT) president and former Michigan governor, said yesterday that inaction from Washington leaders on corporate tax and other issues has caused uncertainty for businesses and stalled economic recovery.

  • China reveals tax incentives for foreign investors

    October 16, 2012

    In a bid to attract new foreign investment, China has moved to mitigate the impact of the enterprise income tax (EIT) that is levied on companies by offering reduced rates for foreign businesses satisfying certain criteria.

  • Deals of the week - October 15 2012

    October 15, 2012

  • India’s Shome report: Retroactivity only in “rarest of rare” cases

    October 15, 2012

    The recommendations of the Parthasarathi Shome-led committee regarding the validity and appropriateness of retrospective amendments to the Indian tax law in light of the retroactive law change following Vodafone, have now been publicised. The panel urged that using retrospective amendments should be reserved for exceptional and rare cases.

  • Nicholas Shaxson on Mitt Romney’s offshore millions

    October 15, 2012

    EXCLUSIVE: In an interview with Salman Shaheen of International Tax Review, Nicholas Shaxson discusses how his investigation into US presidential candidate Mitt Romney’s tax affairs and his book Treasure Islands highlight what he sees as a grey zone between legal and illegal corporate tax avoidance.

  • OECD’s first Global Forum on VAT to discuss guidelines, cross-border challenges and best practices

    October 15, 2012

    EXCLUSIVE: The OECD’s inaugural Global Forum on VAT will meet on November 7-8, when around 90 countries will share their best practices in designing efficient and effective VAT policy.

  • Treaties of the week - October 15 2012

    October 15, 2012

  • What you have missed on ITR Premium

    October 15, 2012

    Miller to be acting IRS chief; Review of compliance in Australia but not GAAR; Italy changes mind on VAT; Norway hikes carbon tax; Finland relaxes interest deduction proposals; UK consults on games tax relief; NZ court hears Alesco appeal; ITAT restructured.

  • Italy halves planned VAT rise

    October 12, 2012

    Italy had planned to increase VAT by two percentage points to ease the burden on poorer households, but the increase has now been halved. It is not expected to affect companies’ tax calculations significantly.

  • Norway doubles carbon tax on oil industry

    October 12, 2012

    Norway’s carbon tax hike shows the country is taking its climate change commitments seriously, but the oil industry is concerned that the measure will undermine the EU Emissions Trading Scheme (ETS).

  • Miller to stand in as IRS commissioner

    October 11, 2012

    Steven Miller will become acting commissioner of the Internal Revenue Service (IRS) in the US when Douglas Shulman leaves his position on November 9.

  • The FTT is on its way

    October 11, 2012

    After months of fraught discussions, and years as a radical fringe policy ignored by those in power, the financial transactions tax (FTT) is set to become a reality as 11 EU member states have decided to adopt it.

  • Australia’s tax inspector takes on compliance review but declines GAAR

    October 10, 2012

    Penalties, compliance risk assessment tools and transfer pricing management, and how the Australian Taxation Office (ATO) approaches them are to come under the gaze of the government official responsible for reviewing how the office operates.

  • French tax data is now available

    October 10, 2012

    Comprehensive information about French tax rates and the tax system in France is now available on www.internationaltaxreview.com

  • More jurisdictions sign up to bilateral approach to FATCA compliance

    October 10, 2012

    The British Crown Dependencies of Guernsey, the Isle of Man and Jersey are the latest jurisdictions to announce that they hope to negotiate intergovernmental agreements with the US to implement FATCA.

  • Australia ratifies multilateral tax cooperation agreement

    October 09, 2012

    Australia’s Assistant Treasurer, David Bradbury, has announced that the country has ratified the Convention on Mutual Administrative Assistance in Tax Matters.

  • European Commission consults on reduced VAT rates

    October 09, 2012

    The European Commission launched a public consultation yesterday, asking businesses and EU citizens their opinion on reduced VAT rates for certain goods and services.

  • Finland softens interest deduction restriction

    October 09, 2012

    Earlier this year, the Finnish government announced its intention to introduce an interest deduction limitation for companies. The EBITDA-based interest deduction limitation proposal was met with opposition from various lobbyists, and the proposals have subsequently been amended.

  • UK consults on cultural test for games tax relief

    October 09, 2012

    The UK government has opened a consultation period for tax executives and practitioners to comment on the design of a cultural test for eligibility to benefit from certain tax reliefs for the creative sector.

  • US presidential candidates draw tax battle lines in live debate

    October 09, 2012

    Last week’s live televised debate between President Barack Obama and his Republican challenger, Mitt Romney, saw moderator Jim Lehrer try to draw out for the electorate the differences between the two men’s policies, including when it comes to corporate taxes.

  • Deals of the week - October 8 2012

    October 08, 2012

  • Kriek leaves Consulco

    October 08, 2012

    Rutger Kriek has left Consulco after eight years to set up his own firm in Cyprus, Equation Corporate Services.

  • New partner for Liedekerke

    October 08, 2012

    Laurence Pinte, formerly head of tax at Dexia, the European banking group, joined Liedekerke Wolters Waelbroeck Kirkpatrick as a partner on October 1 2012.

  • Treaties of the week - October 8 2012

    October 08, 2012

  • What you have missed on ITR Premium

    October 08, 2012

    Audit risk and extra tax; Shulman on US compliance; Business unhappy about Australian delay: French and Spanish 2013 budgets; Japanese business against carbon tax; Netherlands raises VAT rate; PepsiCo in debt vs equity case; EU calls out Britain over loss relief ruling

  • Japanese business says new carbon tax will exacerbate fallout from nuclear disaster

    October 05, 2012

    Business lobbyists are attacking a new carbon tax that was introduced by the Japanese government on Monday, saying its implementation is ill-timed given that companies are still struggling in the wake of last year’s nuclear power plant accident.

  • Netherlands confirms VAT hike

    October 05, 2012

    As announced in April’s interim budget, the Netherlands has raised the VAT rate by two percentage points, from 19% to 21%. The rate is effective from October 1.

  • New group gives fresh impetus to future of VAT in EU

    October 05, 2012

    The VAT Experts Group, which the European Commission set up after the publication of the communication on the future of VAT in December 2011, has new members.

  • Links found between US audit risk and extra tax receipts

    October 03, 2012

    The threat of being audited by the Internal Revenue Service in the US prompts poorly governed companies to be more scrupulous about their tax return filing and financial reporting, two new studies have found.

  • Outstanding firms unveiled at Americas Tax Awards

    October 03, 2012

    Hot on the heels of the presentation of the primetime Emmy awards earlier in the week, the seventh annual Americas Tax Awards ceremony took place in New York on September 27.

  • Shulman emphasises IRS compliance efforts

    October 03, 2012

    Douglas Shulman, the outgoing commissioner of the Internal Revenue Service (IRS) in the US, has identified transparency, timeliness and certainty as important elements of a “well functioning tax system in a global environment”.

  • What you have missed on ITR Premium

    October 03, 2012

    New Indian tax accounting standards; Netherland to abolish thin capitalisation; Malaysia moots corporate tax cut; Possibility of US carbon tax; Serbia changes VAT; GAP's Indian TP dispute; the future for TP disputes

  • Business becoming impatient over Australian reform

    October 02, 2012

    Despite reiterating that a corporate tax cut is a top priority, Australia is yet to reduce the headline rate, and now the Business Council of Australia (BCA) has urged the government to stop its piecemeal approaches to tax reform and adopt a more strategic approach.

  • France and Spain reveal 2013 budgets

    October 02, 2012

    France has unveiled its 2013 budget, which contains tax hikes for large companies on top of the controversial and much-discussed 75% top tax rate for individuals earning more than €1 million ($1.3 million), while Spain has also unveiled measures aimed at reviving its economy.

  • India awaits final Shome committee report

    October 02, 2012

    The Parthasarathi Shome-led committee appointed by the Indian government to assess the merits of a general anti-avoidance rule (GAAR) in the country, as well as to assess the appropriateness of the retrospective amendment issued following the Vodafone tax dispute, has sent its final report to the Finance Minister P Chidambaram.

  • What Obama and Romney agree on

    October 02, 2012

    Tomorrow night’s televised debate between President Barack Obama and Republican presidential candidate Mitt Romney is likely to see the two men reiterate the ways in which they differ from one another, and give reasons as to why their vision for America is superior to their opponent’s. However, one economy-boosting measure they agree on is that the US corporate tax rate should be lowered.

  • Barrage brings international tax experience to Baker & McKenzie

    October 01, 2012

    Baker & McKenzie has hired a new tax partner for its Washington, DC office.

  • Deals of the week - October 1 2012

    October 01, 2012

  • Indian Supreme Court ruling in Fiat case increases uncertainty in excise valuation

    October 01, 2012

    A recent Indian Supreme Court ruling in a dispute involving global car manufacturer Fiat (Commissioner of Central Excise, Mumbai v. Fiat India Pvt. Ltd.) may introduce greater uncertainty in excise valuation and cause Indian manufacturers to suffer.

  • Lissi joins Taxand's Swiss firm

    October 01, 2012

    Tax Partner - Taxand has hired a new partner from the Swiss practice of a big-four firm

  • Pakistan joins campaign for effective exchange of information

    October 01, 2012

    The multilateral group that fights tax evasion has a new member.

  • Treaties of the week - October 1 2012

    October 01, 2012

  • What you have missed on ITR Premium

    October 01, 2012

    New Indian tax accounting standards; Netherland to abolish thin capitalisation; Malaysia moots corporate tax cut; Possibility of US carbon tax; Serbia changes VAT; GAP's Indian TP dispute; the future for TP disputes

  • Wolf Theiss expands tax practice to Poland

    October 01, 2012

International Tax Review Profile

Thankyou to all firms and others who have sent us Christmas wishes by email, post and in person. We are very gratef… https://t.co/aoNCW0Vpys

Dec 15 2017 02:42 ·  reply ·  retweet ·  favourite
International Tax Review Profile

Congratulations on your inclusion, @FabioDeMasi. It's a recognition of the influence you are having on the tax land… https://t.co/uyDj88oN3W

Dec 15 2017 02:30 ·  reply ·  retweet ·  favourite
International Tax Review Profile

RT @EssentiaGlobal: The recently Dutch coalition agreement has confirmed that there will be an increase in the reduced VAT rate from 6% to…

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International Tax Review Profile

RT @PSaintAmans: US and France signing Joint statement @OECD to ensure CBCR information will be properly exchanged #BEPS #tax https://t.co/

Dec 15 2017 12:42 ·  reply ·  retweet ·  favourite
International Tax Review Profile

@iaincampbell07 @hselftax Hi Iain, I'll get someone from our subscriptions team to look into this for you. The… https://t.co/Bt5U4bJhgY

Dec 15 2017 11:37 ·  reply ·  retweet ·  favourite
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