On November 17 the Bipartisan Policy Centre’s Debt Reduction Task Force (Task Force) released its anticipated plan to reduce US debt. The Task Force, co-chaired by former White House budget director and Federal Reserve vice-chair Dr. Alice Rivlin, and former Senate Budget Committee Chairman Pete Domenici, proposed a broad-based tax on goods and services. The tax, intended to revitalise the US economy, is described in a 140-page report, titled “Restoring America’s Future.”
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While it’s great that the OECD is alive to multinationals’ fears of being caught in a compliance trap, the ‘common understanding’ illustrates a worrying lack of readiness
Rising demand for specialist expertise has fuelled the growth in tax partner headcounts, Cain Dwyer found; in other news, Switzerland has been urged to reconsider pillar two
Trophy assets are evolving from personal indulgences to structured investments, prompting family offices to prioritise tax efficiency, governance discipline, and cross-border compliance
Jurisdictions have moved to ensure that multinationals are not punished for late GIR filings due to a lack of available filing portals or exchange relationships
HMRC’s push for unified tax adviser registration won’t prevent every instance of improper conduct, but it is good for taxpayers and the UK’s reputation