New technologies are transforming tax, whether it’s how taxes are collected or what can be done to crack down on evasion. Businesses are eying a more cost-efficient future, while others fear the loss of jobs will hit state finances and call for a tax on robots.
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.
While tax authorities get better at detecting tax fraud, the fraudsters also find new ways to remain under the radar The sharing economy has offered numerous opportunities to individuals and businesses to minimise their tax liabilities, but tax authorities are now using sophisticated software to target those avoiding tax via platforms such as Airbnb, eBay, Amazon and Uber.
Financial institutions are busy filing their first reports to tax authorities to comply with the common reporting standard (CRS), but loopholes in the global measure mean some taxpayers can remain undetected. Amelia Schwanke highlights the gaps appearing and the jurisdictions enabling them.
Rio Tinto has called on Australia and the US to cut their corporate tax rates to become more attractive investment locations, and it seems that Australian Prime Minister Malcolm Turnbull is listening. Will the US follow?
The sharing economy has offered numerous opportunities to individuals and businesses to minimise their tax liabilities, but tax authorities are now using sophisticated software to target those avoiding tax via platforms such as Airbnb, eBay, Amazon and Uber.
The EU Parliament’s Economic and Monetary Affairs Committee (ECON) has accepted proposals to end the use of hybrid mismatch arrangements by multinationals, but has made several amendments to expand the rules.
The world is on the cusp of a major tax revolution as cryptocurrencies and online distributed ledger technologies, such as blockchain, push financial systems from the physical world to online. Amelia Schwanke speaks to the experts in a roundtable discussion about the tax implications and usage of digital currencies and blockchain.
Antoine Deltour, one of the two whistleblowers at the centre of the LuxLeaks scandal, said that he had “mixed feelings” after his conviction for leaking confidential information was upheld, but his sentence was reduced.
In a massive blow to tax transparency and whistleblower campaigners, Antoine Deltour and Raphaël Halet have failed in their quest to be acquitted for the LuxLeaks scandal in an appeal against an earlier verdict.
UK Chancellor of the Exchequer Phillip Hammond will deliver the last Spring Budget speech on Wednesday, March 8 ahead of the switch to Autumn Budgets and Spring Statements.
Tax transparency activists are rejoicing after MEPs in the European Parliament passed amendments to the EU Anti-Money Laundering Directive that allow public access to registers containing the details of the beneficial owners of companies and trusts.
The EU will lead the way in defining how countries worldwide will implement rules to stop the use of hybrid mismatch arrangements in line with BEPS Action 2 after the Economic and Financial Affairs Council (ECOFIN) agreed its position on the rules to prevent the practice with the tax systems of non-EU countries.
With corporations meeting the demands of rapidly changing regulations, increased audits, and new tax technology functions, some are overwhelmed with how much tax is influencing their business strategy – leading to a number of outsourcing arrangements. Amelia Schwanke explores whether General Electric (GE) and PwC’s recent agreement has ignited a new trend for outsourcing a business’s tax function