COMPLIANCE MANAGEMENT
Hong Kong seeks FATCA clarity
Businesses, financial institutions and the Hong Kong government fear the effects of new US tax compliance obligations.
Real-time information gets another boost
The UK tax authorities are growing increasingly confident about their real-time information (RTI) initiative.
CORPORATE TAX
India seeks Mauritius treaty reorganisation
The Indian government has long held the view that the India-Mauritius tax treaty is used by foreign investors to avoid capital gains tax payments in India, and the authorities are looking to alter its clauses, though not for the first time.
Obama unveils tax to-do list for Congress
US President Barack Obama is calling on Congress to enact a number of measures to encourage businesses to move back to the country.
INDIRECT TAX
Commissioner Šemeta still hopeful for an EU-wide FTT
Šemeta explains why he has not given up on an EU-wide FTT, why it remains the best option for taxing the financial sector, and how it could work under enhanced cooperation.
ECOFIN cautiously support’s Commission’s VAT proposals
At a meeting in Brussels this week, the Economic and Financial Affairs (ECOFIN) Council gave the green light to a number of the European Commission’s proposals to make the EU’s VAT system simpler, more efficient and more robust.
TAX DISPUTES
Hewlett-Packard’s court defeat is bad news for US banks
The US Tax Court has denied Hewlett-Packard the right to US tax deductions claimed as part of a scheme involving artificial generation of foreign tax credits. The judgment does not bode well for several banks involved in similar disputes.
Germany to clarify whether domestic law can override tax treaty
The German Federal Fiscal Court recently held that a treaty override by German tax laws might be unconstitutional. If the Federal Constitution Court disagrees, then taxpayers will need to safeguard that refund claims could be appealed.
