Next year will be challenging for the European Commission as it presses ahead with its plans to reform the EU’s VAT system, revise the Energy Tax Directive and implement a financial transactions tax. In an exclusive interview, Algirdas Šemeta, European Commissioner for Taxation and Customs Union, Audit and Anti-Fraud explains how he will be keeping taxpayers busy in 2012.
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Hany Elnaggar examines how Gulf Cooperation Council countries are internalising transfer pricing norms within evolving fiscal systems shaped by both Islamic and international influences
Where a TP study of comparables produces an arm’s-length range, and the taxpayer’s filed position is outside that range, HMRC will adjust to the median by default
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