What you have missed on ITR Premium
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What you have missed on ITR Premium

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Why Hong Kong’s Court of Appeal left holders of trading investments smiling, insight into the future of US tax litigation from the ex-IRS chief counsel, and what the European Commission thinks about VAT on eBooks were just three articles that appeared on ITR Premium last week.

COMPLIANCE MANAGEMENT

australia20flag.jpgCarbon tax is deductible, Australian Accounting Standards Board tells companiesAustralia’s accounting standards setters have given taxpayers some cheer this week saying the country’s new carbon tax, which took effect on July 1, is a deductible expense for income tax purposes.


CORPORATE TAX


oxf20cbt.jpgReport assesses competitiveness of UK tax systemThe Oxford University Centre for Business Taxation (CBT) has assessed how close the UK government has come to achieving its stated ambition to “create the most competitive corporate tax regime in the G20”, highlighting that there is still work to be done.

oecdsmall.jpgOECD latest to urge lower US corporate tax rateThe OECD has recommended that the US should reduce its corporate tax rate, joining the voices of many tax directors, advisers, politicians and industry groups who have already stated the case for reform.


INDIRECT TAX

fgflagsmall.jpgEuropean Commission to assist 10 member states adopt FTTEU finance ministers last week failed to unanimously agree on adopting a financial transactions tax (FTT), but 10 member states are set to push ahead with the support of the European Commission.

kindle.jpgCommission warns France and Luxembourg over VAT on eBooksThe European Commission has launched infringement procedures against France and Luxembourg for reducing their VAT rates on eBooks, which it argues is distorting competition for other member states.


TAX DISPUTES

hong20kong.pngCourt of Appeal decision brings Nice Cheer for Hong Kong taxpayersHolders of trading investments in Hong Kong will be buoyed by a Court of Appeal decision that provides that unrealised gains from such investments are not taxable until realised, while unrealised losses can continue to be treated as tax deductible.

donald20korb.jpgFormer IRS chief counsel tells taxpayers what to expect in tax litigationDonald Korb, now of Sullivan & Cromwell, spent almost five years as chief counsel for the Internal Revenue Service (IRS) from 2004 to2008. He is best known for developing the litigation strategy that led to the US government’s success in tackling tax shelter cases.

more across site & bottom lb ros

More from across our site

More than 1,000 PwC staff in China and Hong Kong engaged in improper answer sharing, it is understood
Yusuf Akhmadi of Indonesia’s Directorate General of Taxation reports on the country’s latest domestic and cross-border initiatives to clamp down on tax evasion
The new rate is a blow to Samsung, while two law firms have made significant tax hires into their respective Washington DC offices
Rema Serafi, KPMG’s first-ever female vice chair for tax, talks about breaking the mould in an exclusive interview with ITR
The metal multinational’s victory, in a case worth $12 million, continues the trend of companies coming out on top against India’s revenue department
Guy Bud and Matthew Greene from litigation firm Stewarts review a dispute on tiered partnerships, which raises questions on corporation tax and partnership law
The stagnating pay and tax bonuses cap follow slashed payouts for the deals team and business consolidation in the last month
A greater UN role has been secured after disagreements between developed and developing countries over the OECD’s influence in global tax reform
The US-based firm picks up investment fund specialist Ceinwen Rees, while Ireland nearly doubles its corporation tax receipts in three years
The order comes amid controversy over another of David Collard’s companies’ tax and TP affairs