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An exclusive interview with EU Commissioner Algirdas Šemeta, analysis of HP’s US Tax Court defeat and why this is bad news for banks, and why India is seeking a renegotiation of its Mauritius tax treaty were just three topics that dominated ITR Premium this week.


Hong Kong seeks FATCA clarityBusinesses, financial institutions and the Hong Kong government fear the effects of new US tax compliance obligations.

Real-time information gets another boostThe UK tax authorities are growing increasingly confident about their real-time information (RTI) initiative.


India seeks Mauritius treaty reorganisationThe Indian government has long held the view that the India-Mauritius tax treaty is used by foreign investors to avoid capital gains tax payments in India, and the authorities are looking to alter its clauses, though not for the first time.

Obama unveils tax to-do list for CongressUS President Barack Obama is calling on Congress to enact a number of measures to encourage businesses to move back to the country.


Commissioner Šemeta still hopeful for an EU-wide FTTŠemeta explains why he has not given up on an EU-wide FTT, why it remains the best option for taxing the financial sector, and how it could work under enhanced cooperation.

ECOFIN cautiously support’s Commission’s VAT proposalsAt a meeting in Brussels this week, the Economic and Financial Affairs (ECOFIN) Council gave the green light to a number of the European Commission’s proposals to make the EU’s VAT system simpler, more efficient and more robust.


Hewlett-Packard’s court defeat is bad news for US banksThe US Tax Court has denied Hewlett-Packard the right to US tax deductions claimed as part of a scheme involving artificial generation of foreign tax credits. The judgment does not bode well for several banks involved in similar disputes.

Germany to clarify whether domestic law can override tax treatyThe German Federal Fiscal Court recently held that a treaty override by German tax laws might be unconstitutional. If the Federal Constitution Court disagrees, then taxpayers will need to safeguard that refund claims could be appealed.

more across site & bottom lb ros

More from across our site

David Pickstone and Anastasia Nourescu of Stewarts review the facts and implications of Ørsted’s appeal at the Upper Tribunal.
The Internal Revenue Service will lose the funding as part of the US debt limit deal, while Amazon UK reaps the benefits of the 130% ‘super-deduction’.
The European Commission wanted to make an example of US companies like Apple, but its crusade against ‘sweetheart’ tax rulings may be derailed at the CJEU.
The OECD has announced that a TP training programme is about to conclude in West Africa, a region that has been plagued by mispricing activities for a number of years.
Richard Murphy and Andrew Baker make the case for tax transparency as a public good and how key principles should lead to a better tax system.
‘Go on leave, effective immediately’, PwC has told nine partners in the latest development in the firm’s ongoing tax scandal.
The forum heard that VAT professionals are struggling under new pressures to validate transactions and catch fraud, responsibilities that they say should lie with governments.
The working paper suggested a new framework for boosting effective carbon rates and reducing the inconsistency of climate policy.
UAE firm Virtuzone launches ‘TaxGPT’, claiming it is the first AI-powered tax tool, while the Australian police faces claims of a conflict of interest over its PwC audit contract.
The US technology company is defending its past Irish tax arrangements at the CJEU in a final showdown that could have major political repercussions.