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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 companies
Australia’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 system
The 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 rate
The 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 FTT
EU 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 eBooks
The 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 taxpayers
Holders 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 litigation
Donald 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 & shared bottom lb ros

More from across our site

It should be easy for advisers to be transparent about costs, Brown Rudnick partner Matthew Sharp said in response to exclusive ITR in-house data
The sprawling legislation phases out Joe Biden-era green tax incentives for businesses; in other news, the UK will reportedly maintain its DST despite US pressure
New French legislation should create a more consistent legal environment for taxing gains from management packages, say Bruno Knadjian and Sylvain Piémont of Herbert Smith Freehills Kramer
The South Africa vs SC ruling may embolden the tax authority to take a more aggressive approach to TP assessments, an adviser tells ITR
Indirect tax professionals now rate compliance as a bigger obstacle than technology and automation; in other news, Italy approved a VAT cut on art sales
AI-powered tax agents are likely to be the next big development in tax technology, says Russell Gammon of Tax Systems
FTI Consulting’s EMEA head of employment tax and reward tells ITR about celebrating diversity in the profession, his love of musicals, and what makes tax cool
Canadian Prime Minister Mark Carney and US President Donald Trump have agreed that the countries will look to conclude a deal by July 21, 2025
The firm’s lack of transparency regarding its tax leaks scandal should see the ban extended beyond June 30, senators Deborah O’Neill and Barbara Pocock tell ITR
Despite posing significant administrative hurdles, digital services taxes remain ‘the best way forward’ for emerging economies, says Neil Kelley, COO of Ascoria
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