All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

What you have missed on ITR Premium

itrpremiumlogo2.jpg

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 from across our site

The state secretary told the French press that the country continues to oppose pillar two’s global minimum tax rate following an Ecofin meeting last week.
This week the Biden administration has run into opposition over a proposal for a federal gas tax holiday, while the European Parliament has approved a plan for an EU carbon border mechanism.
Businesses need to improve on data management to ensure tax departments become much more integrated, according to Microsoft’s chief digital officer at a KPMG event.
Businesses must ensure any alternative benchmark rate is included in their TP studies and approved by tax authorities, as Libor for the US ends in exactly a year.
Tax directors warn that a lack of adequate planning for VAT rule changes could leave businesses exposed to regulatory errors and costly fines.
Tax professionals have urged suppliers of goods from Great Britain to Northern Ireland to pause any plans to restructure their supply chains following the NI Protocol Bill.
Tax leaders say communication with peers is important for risk management, especially on how to approach regional authorities.
Advances in compliance tools in international markets and the digitalisation of global tax administrations are increasing in-house demand for technologists.
The US fast-food company has agreed to pay €1.25 billion to settle the French investigation into its transfer pricing arrangements over allegations of tax evasion.
HM Revenue and Customs said the UK pillar two legislation will be delayed until at least December 2023, while ITR reported on a secret Netflix settlement and an IMF study on VAT cuts.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree