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What you have missed on ITR Premium

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How to survive an Indian tax audit; why taxpayers have not welcomed the EC’s Quick Reaction Mechanism; and how AIG is still benefiting from a controversial US tax benefit were just three articles that appeared on ITR Premium last week.


COMPLIANCE MANAGEMENT

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AIG benefits from controversial US tax benefitAIG, the international insurance and financial services company, reported an increase in second-quarter profit last week, boosted by the use of a much-criticised tax benefit.

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The FATCA saga continuesTwo weeks ago, the US Treasury issued a model intergovernmental agreement to improve tax compliance and to implement FATCA. Nathalie Grenewitz, of Bödecker Ernst & Partner, assesses the agreement.


CORPORATE TAX

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Denmark continues drive for tax transparencyThe Danish government has introduced a new measure requiring companies to expose their tax information to the public via the tax authority’s website.

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TREATY ANALYSIS: Mexico-Barbados DTABarbados’ partial removal from the Mexican blacklist of tax haven jurisdictions has opened up new routes for investors, and the double taxation agreement (DTA) between the two countries also contains other advantageous provisions that have increased the tax planning opportunities available to companies.


INDIRECT TAX

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European Commission’s VAT Quick Reaction Mechanism criticised by taxpayersThe European Commission has proposed a Quick Reaction Mechanism (QRM) to allow member states to swiftly combat VAT fraud. Legitimate taxpayers are concerned, however, that it will add to their compliance burden.

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Indian GST could be delayed beyond 2014One of the key figures behind India’s GST has said that it is unlikely to be rolled out before 2014. But advisers believe even this may be optimistic.


TAX DISPUTES

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Australia commits to improve alternative dispute resolutionTaxpayers can look forward to earlier, more cost effective dispute resolution after the Australian Taxation Office (ATO) agreed to several recommendations in a recent report published by the Inspector-General of Taxation (IGT).

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Tax directors’ guide to surviving an Indian tax auditNavin Jain, head of India tax at Cairn Energy, and Jitendra Grover, head of India tax at Nokia, give their insight on facing a tax audit in India.

more across site & bottom lb ros

More from across our site

The European Parliament raises concerns over unanimity in voting on pillar two, while protests break out over tax reform in Colombia.
Ramesh Khaitan speaks to reporter Siqalane Taho about tax morality, transfer pricing regulations, Indian tax developments, and the OECD’s two-pillar solution.
Join ITR and KPMG China at 10am BST on October 19 as they discuss the personal, employment, and corporate tax-related implications of employees working from overseas.
Tricentis and Boehringer Ingelheim, along with a European Commission TP specialist, criticised the complexity of pillar one rules and their scope at an ITR event.
Speakers at ITR’s Managing Tax Disputes Summit said taxpayers can still face lengthy TP audits, despite strong documentation preparation
Gig economy companies in New Zealand will need to fully account and become liable for the goods and services tax of underlying suppliers on their platforms, under new proposals.
Join ITR and Thomson Reuters at 2pm (UAE) / 11am (UK) on October 13 as they discuss how businesses can prepare for Tax Administration 3.0 and future-proof against changes such as e-invoicing and increasing digitisation.
ITR has partnered with global TP leaders from Deloitte to discuss transfer pricing controversy around the globe, and to share advice on how to navigate an increasingly uncertain and risky TP landscape.
Sources say they are not satisfied with pillar one protections in the marketing and distribution safe harbour, even though it was designed to give businesses greater tax certainty.
Political support for qualified majority voting is at a peak as unanimity rules continue to block the European Council from passing a directive on pillar two.
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