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What the future holds for Japan's indirect tax system; the UK updating its CFC regime; and US lawmakers agreeing how to speed up tax reform were just three articles that appeared on ITR Premium last week.



Australia casts wide net for tax compliance risksThe Australian Tax Office's (ATO) annual Compliance Programme has no shocks for large businesses, but that does not mean they can be complacent about the topics that the authorities have identified as particular risks.


IFF settles Spanish tax deductions disputeInternational Flavors & Fragrances (IFF) has announced that it has reached a settlement with the Spanish tax authorities regarding income tax deductions.



UK updates CFC excluded territories exemptionThe UK Treasury has revised the draft regulations for the excluded territories exemption (ETE) of the controlled foreign companies (CFC) regime.


US lawmakers agree in how to speed up tax reformUS lawmakers have passed a Bill to expedite tax reform procedural issues in 2013. The Bill will provide a fast-track procedure for enacting tax reform, if the reform proposals meet certain requirements.



Japan's indirect tax system hangs in the balanceAfter intense wrangling, the Japanese parliament has finally approved plans to double consumption tax. But it may cost Prime Minister Yoshihiko Noda his job.


ECJ beginning to recognise problem of penalties and interest on VAT errors, says GE's NeedhamTaxpayers are angry over the unfair enforcement of interest on old VAT errors even when there has never been any loss to the exchequer. However there are signs things are changing.



India's Supreme Court questions review of AAR rulingsIndia's Authority for Advance Rulings (AAR) remains unchanged under the Indian Income Tax Act despite a Supreme Court judgment questioning its status, argues Sanjay Sanghvi and Surajkumar Shetty of Khaitan & Co.


Eaton's US Tax Court case could define obligations of parties to an APAMike Patton, of DLA Piper, explains why a pending US Tax Court case may help clarify the legal rights and obligations of the parties to an advance pricing agreement (APA).

more across site & bottom lb ros

More from across our site

PwC publishes detailed accounts of its behaviour in the tax scandal in Australia, while another tax trial looms for pop star Shakira.
The winners of the ITR Europe, Middle East, and Africa Tax Awards 2023 have been announced!
The winners of the ITR Asia-Pacific Tax Awards 2023 have been announced!
Mauro Faggion appeared cautiously optimistic as the European Commission waits to see whether all 27 member states will accept its proposal.
The global minimum rate also won’t entirely stop a race to the bottom, according to a tax director speaking at an ITR conference in London.
The country’s tax authorities are not interested in seeing transfer pricing studies any more, it was claimed at an ITR industry conference in London.
The controversial measure is being watered down after criticism from the European Central Bank.
More than 600 such requests were made in 2022, while HMRC has also bolstered its fraud service, it has been revealed.
The General Court reverses its position taken four years ago, while the UN discusses tax policy in New York.
Discussion on amount B under the first part of the OECD's two-pronged approach to international tax reform is far from over, if the latest consultation is anything go by.