In his February 17 economic note, Australian Treasurer Wayne Swan talked of the increasing trend of multinational profit shifting, throwing his weight behind earlier comments from his counterparts in France, Germany and the UK. Now, Assistant Treasurer David Bradbury has reinforced the Australian government’s stance by claiming that protection of the tax base is the “most significant challenge to the world’s major advanced economies”.
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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