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  • August 2015

    China and Taiwan agree tax treaty

    August 27, 2015

    China and Taiwan have agreed a double tax treaty after talks between the Taipei-based Straits Exchange Foundation (SEF) and Beijing-headquartered Association for Relations Across the Taiwan Straits (ARATS).

  • Information disclosure gives taxpayers plenty to ponder in KPMG discussion document

    August 27, 2015

    Top multinationals have contributed to a discussion document on what UK taxpayers should think about when disclosing information about their tax affairs.

  • Australian businesses want tax reform momentum

    August 26, 2015

    Businesses are latching onto Australian Treasurer Joe Hockey’s commitments to reducing personal income tax, calling for such reforms to be extended to corporate taxation, too.

  • Brazilian fiscal adjustments: An effective solution?

    August 26, 2015

    Brazil is facing one of its most serious political and financial crises in years, and is crying out for adjustments in its public finances and national debt.

  • China: How can taxpayers deal with the stock market crash?

    August 26, 2015

    China’s economic problems came to a head early this week, with the benchmark Shanghai Composite index losing more than 15% of its value on Monday and Tuesday.

  • Shome leads new international tax research think-tank

    August 26, 2015

    Parthasarathi Shome is the man who will lead India’s International Tax Research and Analysis Foundation (ITRAF), launched as a non-lobbying, apolitical think-tank which will provide research and other services to supplement government efforts to implement effective tax policy.

  • New Zealand to introduce distance-selling regime for GST

    August 25, 2015

    New Zealand is set to become the next country to implement a distance selling regime for B2C sales, charging companies GST on sales to its residents, after the government released a discussion draft on proposed changes.

  • Have you tried ITR's new live-chat feature?

    August 24, 2015 has an exciting new feature. Live-chat or leave us a message now!

  • Americas Tax Awards 2015

    August 21, 2015

    The shortlists for the Americas Tax Awards 2015 have been released.

  • Behind the scenes with China’s tax minister: Writing on the wall spells harmonisation

    August 21, 2015

    With the government fast-tracking economic and fiscal development, Wang Jun, China’s Tax Commissioner (ministerial level) provides insights into how he is bringing Chinese tax policy into line with global standards, and the importance of taking care of the pond if you want good quality fish.

  • Disclosure of intercompany agreements under BEPS

    August 21, 2015

    Much time and attention has been devoted to planning for a post-BEPS world, from analysing systems that may need to be adopted to looking at how taxpayer-tax authority relationships are likely to change. But less has been said about the impact of BEPS deliverables on commercial contract documentation and the extent to which such contracts will be scrutinised. Jen Winterhalder, a solicitor in PwC Legal and Latika Sharma, a partner and head of PwC Legal’s intellectual property and commercial contracts team, focus on the importance of matching contract terms to commercial substance, both now and for the future.

  • A coordinated approach to combat tax fraud and evasion

    August 21, 2015

    Lyudmila Petkova, director of the Bulgarian Ministry of Finance’s Tax Policy Directorate, outlines the moves being made to counter tax fraud and tax evasion in Bulgaria at national level, as well as how this fits into wider regional and global efforts to tackle abuse.

  • Winds of change: Energy taxation evolving as oil price slips further

    August 21, 2015

    A turbulent year for the energy sector has seen oil prices decreasing by more than half from June 2014 to the beginning of 2015 and brent crude oil dipping below $50 a barrel for the first time since May 2009. This volatility has caused longer term, widespread repercussions across the industry. Jimmie van der Zwaan from Taxand Netherlands looks at some of the consequences impacting the sector, including an increase in M&A activity, tax concessions instigated by governments and major oil companies announcing ravaged profits - and this is before considering the gathering momentum of the OECD's initiatives to tackle base erosion and profit shifting (BEPS) in international tax planning.

  • Tearing up the VAT Directive: Reduced rates reform

    August 21, 2015

    With the European VAT Directive set for a drastic rewrite, Joe Stanley-Smith gets the inside line from the man who oversaw this year’s implementation of the place of supply rules, and takes in advisers’ views on how stakeholders will be affected.

  • The new Italian Patent Box regime

    August 21, 2015

    As governments around the world assess the best way to attract – and tax – R&D and intellectual property investment, Giulia Cipollini and Bianca Macrina of Withers in Milan look at the incentives taxpayers can avail in Italy, tracking the nuances of the Italian Patent Box regime from introduction to operation.

  • Issues the economist forgets? TP policy – a banking perspective

    August 21, 2015

    After spending 15 years in-house, Ben Henton last month joined BDO as a transfer pricing director. He returns to the UK from Asia after four years working at HSBC and DBS Bank in Hong Kong and Singapore. Here, he addresses operational risk challenges in transfer pricing (TP) from an in-house perspective, going beyond technical TP legislation and guidelines.

  • A tax system for sustainable growth

    August 21, 2015

    In this exclusive op-ed piece for International Tax Review, Chris Lenon, former head of tax for Rio Tinto and an expert witness to the Independent Commission for the Reform of International Corporate Taxation (ICRICT), argues that a focus on incentives and ultra low or no tax jurisdictions should be policy makers’ priority, rather than ideas included in the commission’s report, such as allocation.

  • How long will a ‘voluntary’ code of practice remain voluntary?

    August 21, 2015

    Charles Yorke and David Stainer, of Allen & Overy, review the latest UK Government proposals on improving compliance by large corporate taxpayers, including a ‘voluntary’ code of practice likely to give rise to fears of ‘mission creep’.

  • Clayton joins KPMG’s insurance tax team as partner

    August 20, 2015

    KPMG has announced that Rob Clayton will be appointed as a partner in its insurance tax team from October 1.

  • Egyptian VAT would be bad news for big business due to high threshold

    August 20, 2015

    Egypt’s long-awaited VAT could be inching ever closer according to a statement by the head of the tax authority, but the high threshold being proposed could hand smaller businesses a competitive advantage.

  • Marval, O'Farrell & Mairal promotes Vaquero to partner

    August 20, 2015

    Argentinian firm Marval, O'Farrell & Mairal has promoted senior associate Fernando Vaquero to partner.

  • State aid: EC rules against tax breaks given to companies hit by natural disasters

    August 20, 2015

    The European Commission (EC) has found that company tax breaks and reductions in social security contributions given to Italian companies constitute state aid.

  • India hopes FATCA's exchange of information will reveal undeclared assets

    August 19, 2015

    The publication of detailed rules by the Indian government on August 7 builds on the intergovernmental agreement (IGA) the country signed with the US in July to implement the Foreign Account Tax Compliance Act (FATCA).

  • US Tax Court invalidates 2003 final cost-sharing regulations

    August 19, 2015

    The US Tax Court recently issued its decision in the much anticipated Altera Corporation v Commissioner, [145 TC Memo No 3 (2015)] case, addressing whether stock-based compensation costs must be included in the pool of costs that are shared under a cost-sharing arrangement (CSA).

  • Luxembourg proposes new corporate tax measures for 2015 and 2016

    August 18, 2015

    Luxembourg has proposed major corporate tax changes which would bring the Grand Duchy into line with recent updates to the Parent-Subsidiary Directive.

  • OECD implementation handbook provides CRS / FATCA comparison

    August 14, 2015

    Progress towards the implementation of the Common Reporting Standard (CRS) by governments and financial institutions has gone up a notch.

  • What effect could the Altera decision have on non-US companies and subsidiaries?

    August 14, 2015

    A recent decision in Altera Corporation vs Commissioner has seen a portion of treasury regulations relating to cost-sharing agreements (CSAs) on stock-based compensation ruled as invalid.

  • IMF again recommends UAE introduces both VAT and corporate tax

    August 13, 2015

    The International Monetary Fund (IMF) has recommended the United Arab Emirates (UAE) to introduce corporate tax, VAT and a new tax on cars.

  • Financial Services Industry Guide 2015 now available

    August 12, 2015

    The Financial Services Industry Guide guide, published in association with Deloitte, is now available online.

  • Three more Swiss banks complete US DoJ self-reporting programme

    August 11, 2015

    The US Department of Justice (DoJ) has announced that three more banks have completed the Swiss self-reporting programme.

  • Austria is “largely compliant” with global tax transparency and exchange of information rules

    August 06, 2015

    The OECD has unveiled a new set of peer reviews and reports for 12 countries or jurisdictions, looking at their progress towards implementing global standards on transparency and exchange of information for tax purposes.

  • Indian Supreme Court adjourns Castleton hearing to consider AP Shah report on MAT

    August 06, 2015

    India’s tax authorities have adjourned a Supreme Court hearing for the Castleton case on minimum alternate tax (MAT) to allow themselves more time to study the AP Shah panel’s report on the issue.

  • HMRC wins accelerated payment notices case

    August 05, 2015

    The UK revenue authority, HM Revenue & Customs (HMRC), has successfully fought off a legal challenge to its controversial accelerated payment notices (APNs) legislation.

  • Uber challenges Australian authorities over GST application

    August 03, 2015

    Transportation network company Uber has locked horns with the Australian Taxation Office (ATO) over demands that its drivers pay goods and services tax (GST).

International Correspondents