This content is from: Direct Tax

What you have missed on ITR Premium

The latest developments in China’s VAT regime; how to survive a French tax dispute; and what the future holds for the US manufacturing sector under proposed tax reform were just three articles that appeared on ITR Premium last week.

COMPLIANCE MANAGEMENT

Two new FATCA reporting models unveiled
The US Treasury has published details of its intergovernmental agreement on the implementation of FATCA. Taxpayers can now benefit from greater compliance flexibility.


CORPORATE TAX

Olympics sponsors waiving tax exemption highlights transparency focus
As the focus on the tax arrangements of large corporations continues to grow, the waiving of corporate tax breaks by sponsors of the London 2012 Olympic Games is a sign that companies are beginning to treat tax transparency more and more seriously.

How manufacturing will be affected by US tax reform
In the latest of a series of hearings looking at comprehensive reform of the US tax code, the Ways and Means Committee last week assessed the issue of reform and its impact on the manufacturing sector, with manufacturers disagreeing over which tax breaks they would be willing to give up to accommodate a lower corporate tax rate.

INDIRECT TAX

China’s State Council confirms expansion of VAT pilot
Seven months after Shanghai became China’s first city to roll out the country’s VAT pilot regime, the State Council has announced the program’s expansion to include 10 more cities and provinces.

ECJ leaves UK High Court to settle Littlewoods VAT case
Robert Waterson of Dorsey & Whitney asks if we are any clearer on how to claim interest on overpaid VAT following the ECJ Littlewoods judgment.


TAX DISPUTES

How to survive a French tax dispute
France’s recently elected Socialist government has already announced new tax policies aimed at large companies, with changes to anti-abuse and controlled foreign company rules likely to lead to more tax authority challenges next year.

FII group Litigation opinion opens door for ECJ ruling reversal
An Advocate General of the European Court of Justice (ECJ) has released an opinion that gives the court the option of reversing its original decision in the Franked Investment Income Group Litigation Order (FII) case.

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