US Corporate Transparency Act adds to taxpayer compliance burden In-house tax directors and their advisors expect a higher compliance burden by January 2022 as the Corporate Transparency Act (CTA) introduces beneficial ownership reporting rules in the US. By Danish Mehboob March 26 2021
UK surprises taxpayers with TP rules instead of CGT hike on ‘Tax Day’ HM Treasury unveiled more than 30 updates to UK tax policy on March 23, which Chancellor Rishi Sunak dubbed ‘Tax Day’. The proposals include important TP changes, but no highly-anticipated... By Danish Mehboob March 24 2021
Turnover taxes do not violate EU state aid law, finds CJEU Turnover taxes in Poland and Hungary are compatible with EU state aid rules, according to the Court of Justice of the European Union (CJEU). By Danish Mehboob March 19 2021
Hong Kong stamp duty hike offers a chance to reduce compliance burden The unexpected 30% stamp duty rate increase on stock transfers, which saw shares on the main stock exchange HKEX tumble by 8.8%, could precipitate a dialogue between taxpayers and the... By Danish Mehboob & Alice Jones March 17 2021
Incoming OECD secretary-general to face higher tax policy pressures Former Australian finance minister Mathias Cormann will begin his five-year term as OECD secretary-general by focusing on the coronavirus economic recovery, climate change and digital tax but climate experts are... By Danish Mehboob March 16 2021
US participation in OECD talks leading to simpler digital tax rules, says OECD official The US global intangible low-taxed income (GILTI) rules and OECD global minimum tax regime under pillar two will be better coordinated now that the US is involved in talks, creating... By Danish Mehboob March 15 2021
EU launches DAC8 consultation on reporting crypto-assets and e-money Starbucks, PayPal and IBM are among the companies that may face more reporting obligations under a consultation document released by the European Commission about extending the exchange of tax information... By Danish Mehboob March 11 2021
UK ‘super-deduction’ set to lure FDI away from Dutch market The 130% super-deduction is one of the largest corporate tax giveaways ever in the UK, according to government officials. It is also a blow to foreign direct investment (FDI) in... By Danish Mehboob March 08 2021
UK budget offsets corporate tax burden with 'super deduction' The UK government has set out plans to increase the corporate tax rate from 19% to 25% in 2023, however, the budget also includes a historic 130% 'super deduction' to... By Danish Mehboob March 03 2021
UN FACTI report receives mixed responses from tax professionals Taxpayers are sceptical of the practicality of tax recommendations in a high-level UN report, but tax justice campaigners think the document marks a pivotal step in revising the global tax... By Danish Mehboob February 26 2021
