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Analysis of Home Concrete’s US Supreme Court victory, why the European Parliament is backing an amended CCCTB and what the French presidential race means for corporate taxes were just three of the headlines that dominated ITR Premium last week.



COMPLIANCE MANAGEMENT

Tax hurts Ford’s first-quarterA higher tax expense contributed to a fall in Ford Motor Company’s net income in the first quarter of the year.

US draws one more country into FATCA netIreland’s tax authorities have confirmed to International Tax Review that they are in talks with the Internal Revenue Service about the implementation of the Foreign Account Tax Compliance Act.



CORPORATE TAX


European Parliament back amended CCCTBThe European Parliament has given its support for an EU-wide common consolidated corporate tax base (CCCTB), stating the measure should become mandatory following a transition period.

What the French presidential election could mean for corporate taxesWith Socialist candidate Francois Hollande taking a narrow victory over the incumbent Nicolas Sarkozy in the first round of France’s presidential election, read what the candidates have planned for the country’s corporate tax system.



INDIRECT TAX


UK government to crack down on LVCR avoidance schemesThe UK government is taking steps to stop companies avoiding the removal of low value consignment relief (LVCR) on Channel Island imports two weeks after International Tax Review reported how companies are getting around the abolition.

Environmentalists disappointed by slow progress on revised ETDEnvironmentalists welcomed the European Commission’s revised Energy Tax Directive (ETD), but they feel Council negotiations over the reforms are taking too long and are in danger of weakening the proposals.



TAX DISPUTES

Why taxpayers should be relieved after Home Concrete’s SC winThe US Supreme Court has ruled that the Internal Revenue Service (IRS) cannot use an extended six year statute of limitations period to investigate an overstatement of basis by Home Concrete.

HMRC won’t appeal SDRT rulingUK companies can expect refunds of stamp duty reserve tax (SDRT) paid on the transfer of shares outside the EU for capital raising purposes, after HMRC announced it will not seek permission to appeal the First-tier Tax Tribunal’s decision in the HSBC case.

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more across site & bottom lb ros

More from across our site

The Indian company, which is contesting the bill, has a family connection to UK Prime Minister Rishi Sunak – whose government has just been hit by a tax scandal.
Developments included calls for tax reform in Malaysia and the US, concerns about the level of the VAT threshold in the UK, Ukraine’s preparations for EU accession, and more.
A steady stream of countries has announced steps towards implementing pillar two, but Korea has got there first. Ralph Cunningham finds out what tax executives should do next.
The BEPS Monitoring Group has found a rare point of agreement with business bodies advocating an EU-wide one-stop-shop for compliance under BEFIT.
Former PwC partner Peter-John Collins has been banned from serving as a tax agent in Australia, while Brazil reports its best-ever year of tax collection on record.
Industry groups are concerned about the shift away from the ALP towards formulary apportionment as part of a common consolidated corporate tax base across the EU.
The former tax official in Italy will take up her post in April.
With marked economic disruption matched by a frenetic rate of regulatory upheaval, ITR partnered with Asia’s leading legal minds to navigate the continent’s growing complexity.
Lawmakers seem more reticent than ever to make ambitious tax proposals since the disastrous ‘mini-budget’ last September, but the country needs serious change.
The panel, the only one dedicated to tax at the World Economic Forum, comprised government ministers and other officials.