What you have missed on ITR Premium
How Scottish Power’s US Tax Court victory could hamper the IRS, why Spain is increasing its VAT rate, and insight into why the G20 is not too excited about IFRS were just three articles that appeared on ITR Premium last week.
Despite coming under pressure for a commitment to International Financial Reporting Standards (IFRS), the leaders of the G20 were low-key in their support for global accounting standards on June 18 and 19.
Jamaica has become the latest jurisdiction to raise the possibility of concluding a bilateral agreement with the US to implement the Foreign Account Tax Compliance Act (FATCA).
Read why the IRS and Treasury have released new rules that make it harder for US companies to relocate to low-tax jurisdictions.
In the latest Senate Finance Committee hearing into US tax reform, the impact of reform on energy policy was assessed, with committee chairman Max Baucus saying it provides the energy sector with an opportunity to make real progress in securing future energy supply while also simplifying the tax code.
The IMF has recommended that Spain should raise its VAT rates, making an increase next year even more likely
The European Commission has begun infringement proceedings against the UK for the reduced rate it applies on energy saving and heating products, but the UK might have a sound argument to challenge.
The IRS may need to reconsider its position when challenging certain debt instruments after Scottish Power this week won its US Tax Court case over the tax deductibility of interest.
Indian telecommunications company Bharti Airtel has been ordered to pay Rs700 crore ($124 million) for alleged evasion of customs duties, but many tax professionals believe the treatment is un