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What you have missed on ITR Premium

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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.

COMPLIANCE MANAGEMENT


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

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


CORPORATE TAX


India seeks Mauritius treaty reorganisation
The 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 Congress
US President Barack Obama is calling on Congress to enact a number of measures to encourage businesses to move back to the country.


INDIRECT TAX

Commissioner Šemeta still hopeful for an EU-wide FTT
Šemeta 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 proposals
At 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.


TAX DISPUTES

Hewlett-Packard’s court defeat is bad news for US banks
The 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 treaty
The 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 & shared bottom lb ros

More from across our site

Countries which care about fair taxation of tech multinationals and equitable global distribution of wealth should back the UN’s tax framework, writes economist Abdelmalek Riad
The cuts disproportionately affected staff in certain positions, the report also found; in other news, MHA announced the €24m acquisition of Baker Tilly South East Europe
The plan aims to improve the efficiency, transparency, and effectiveness of direct tax administration in India
Meanwhile, South Africa’s finance minister has accepted a court decision on suspending a VAT increase and US President Donald Trump mulls a 100% tariff on foreign films
Jaime Carey speaks about the benefits of his tax background, DEI values, the use of AI for a smarter legal practice, and other priorities that will define his presidency
Historically low levels of attrition over consecutive years made a ‘difficult decision’ necessary, PwC has reportedly said
WTS Global is also vetting new potential member firms in Algeria, Cote D’Ivoire and Benin, Kelly Mgbor tells ITR in an exclusive interview
The scope of qualifying pillar two tax credits could reportedly be broadened; in other news, hundreds of IRS appeals staff are to resign
For many taxpayers, the prospect of long-term certainty that a bilateral APA offers can override concerns about time, cost and confidentiality
Levine, who served under the Joe Biden administration, led the US’s negotiations on the OECD’s two-pillar solution
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