President Barack Obama delivered his 2013 budget speech yesterday and despite not dealing with comprehensive reform of the tax code – proposals for which will come in the next few weeks – he reiterated the sentiments of his State of the Union address and called for ending tax breaks for companies that ship jobs overseas, replacing them with incentives for those companies that conversely bring jobs and investment to the US.
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The firms made senior hires in Los Angeles and Cleveland respectively; in other news, South Korea reported an 11% rise in tax income, fuelled by a corporation tax boom
While the manual should be consulted for any questions around MAPs, the OECD’s Sriram Govind also emphasised that the guidance is ‘not a political commitment’
The landmark Indian Supreme Court judgment redefines GAAR, JAAR and treaty safeguards, rejects protections for indirect transfers and tightens conditions for Mauritius‑based investors claiming DTAA relief
As tax teams face pressure from complex rules and manual processes, adopting clear ownership, clean data and adaptable technology is essential, writes Russell Gammon, chief innovation officer at Tax Systems