The OECD has made some progress in discussions with the US over the organization’s drive against tax evasion. After a meeting of the OECD’s Forum on Harmful Tax Practices in June, the US expressed its support for some of the proposed measures to combat tax evasion. However, the OECD may need to compromise on some of its demands to win full US support for the initiative
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Tax professionals are still going to be needed, but AI will make it easier for them than starting from zero, EY’s global tax disputes leader Luis Coronado tells ITR
The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap