COMPLIANCE MANAGEMENT
Tax hurts Ford’s first-quarter
A higher tax expense contributed to a fall in Ford Motor Company’s net income in the first quarter of the year.
US draws one more country into FATCA net
Ireland’s tax authorities have confirmed to International Tax Review that they are in talks with the Internal Revenue Service about the implementation of the Foreign Account Tax Compliance Act.
CORPORATE TAX
European Parliament back amended CCCTB
The European Parliament has given its support for an EU-wide common consolidated corporate tax base (CCCTB), stating the measure should become mandatory following a transition period.
What the French presidential election could mean for corporate taxes
With Socialist candidate Francois Hollande taking a narrow victory over the incumbent Nicolas Sarkozy in the first round of France’s presidential election, read what the candidates have planned for the country’s corporate tax system.
INDIRECT TAX
UK government to crack down on LVCR avoidance schemes
The UK government is taking steps to stop companies avoiding the removal of low value consignment relief (LVCR) on Channel Island imports two weeks after International Tax Review reported how companies are getting around the abolition.
Environmentalists disappointed by slow progress on revised ETD
Environmentalists welcomed the European Commission’s revised Energy Tax Directive (ETD), but they feel Council negotiations over the reforms are taking too long and are in danger of weakening the proposals.
TAX DISPUTES
Why taxpayers should be relieved after Home Concrete’s SC win
The US Supreme Court has ruled that the Internal Revenue Service (IRS) cannot use an extended six year statute of limitations period to investigate an overstatement of basis by Home Concrete.
HMRC won’t appeal SDRT ruling
UK companies can expect refunds of stamp duty reserve tax (SDRT) paid on the transfer of shares outside the EU for capital raising purposes, after HMRC announced it will not seek permission to appeal the First-tier Tax Tribunal’s decision in the HSBC case.
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