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What you have missed on ITR Premium

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Insight into why Finland wants to introduce a financial transaction tax, why HMRC is in danger of discrediting UK taxpayer settlements, and how to get faster dispute resolution at the Tax Court of Canada were just three articles that appeared on ITR Premium last week.


COMPLIANCE MANAGEMENT

Accountants look for G20 commitment to IFRS
g20.jpgThe G20 should commit to the adoption of International Financial Reporting Standards (IFRS) around the world and examine and improve how taxes are assessed and collected.






EFRAG questions proposal to amend IAS 12

The European Financial Reporting Advisory Group (EFRAG) is concerned that the International Accounting Standards Board (IASB) has not considered fully its proposed changes to IAS 12, which deals with accounting for income taxes.


CORPORATE TAX

What you need to know about the UK GAAR consultation
aaronson.jpgWith the consultation document weighing in at 48 pages of technical detail, International Tax Review has done the hard work so you don’t have to, and highlighted the main features alongside analysis from leading advisers.


Dutch follow EU trend to restrict deduction
netherlands.jpgA Bill sent to Dutch parliament last week seeks to restrict interest expense deductions for debt used to finance qualifying participations.



INDIRECT TAX

Finland wants FTT, says foreign minister Erkki Tuomioja
erkki.jpgErkki Tuomioja, Finland's Minister for Foreign Affairs, has said the government wants to introduce a financial transaction tax (FTT), but not unilaterally




Colombia’s carbon tax to be first in Latin America

Colombia may become the first Latin American country to introduce a carbon tax in its forthcoming Tax Bill.


TAX DISPUTES

How to get faster dispute resolution at the Tax Court of Canada

tax20court20canada.jpgCanadian taxpayers can look forward to their tax disputes being resolved quicker by the Tax Court of Canada (TCC), if draft legislation released last week is adopted.



HMRC in danger of discrediting taxpayer settlements, warns NAO
hmrc20small2.jpgTaxpayers are at risk of not getting the best deal when it comes to negotiating a tax settlement with HM Revenue & Customs (HMRC), after a report from the National Audit Office highlighted flaws in the tax authority’s governance procedures.



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.
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