This content is from: Social media for tax evaders A monthly commentary on the notable facts, figures and goings-on in the tax world. Suitable items should be sent to taxrelief@euromoneyplc.com August 31 2010
This content is from: Sponsored Portugal adds to treaty network and information exchange agreements A country's tax policy is reflected in its domestic tax legislation as well as its tax treaty positions. By Garrigues Portugal & Tiago Cassiano Neves August 31 2010
This content is from: Coming to terms with Schedule UTP Taxpayers responded to the IRS' announcement about the reporting of uncertain tax positions with consternation. Erin Kelechava finds out that most corporate taxpayers regard Schedule UTP as a major departure from the ... August 31 2010
This content is from: Sponsored Amendment to taxation of foreign dividends South African residents pay tax on their foreign dividends. However, various exemptions apply. In particular, where a resident of South Africa holds at least 20% of the ordinary shares in the declaring company and var... By ITR Correspondent August 31 2010
This content is from: Tax developments challenge Japanese taxpayers Eiki Kawakami of Kojima Law Offices-Taxand looks back at a busy few months for the Japanese tax system. Politics and disputes have been keeping taxpayers busier than ever with a number of important decisions making ma... August 31 2010
This content is from: Clinging to the changing face of APAs Since APAs became an option for corporate taxpayers, there has been a gradual shift in their purpose and a split in taxpayer and government approaches to the agreements. Catherine Snowdon discovers how the process of ... August 31 2010
This content is from: Asia tax directors speak out against extra pressure Tax executives are being placed under extra pressure. Their busy times are no longer just at year end, they are all year round. This is where external advisers step in to reduce the workload. Jack Grocott analyses the... August 31 2010
This content is from: Brazil publishes its black and greylists Andrea Bazzo Lauletta and Luiz Felipe Centeno Ferraz of Mattos Filho, of Veiga Filho, Marrey Jr e Quiroga Advogados in Brazil explain how the country is modernising its categorisation of tax havens and privileged tax ... August 31 2010
This content is from: Group guarantees remain a tax minefield Megan Lapwood and Mark Atkinson of Deloitte in Switzerland describe how cross guarantees and the overall flow of benefits derived within a multinational group from external funding may affect how guarantee fees should... August 31 2010
This content is from: US jobs bill including $11 billion in international taxes becomes law August 31 2010
This content is from: Generally arduous and risky The UK tax market's reaction to the idea of a General Anti-Avoidance Rule (GAAR) has been generally unsupportive. Sophie Ashley investigates how other countries' experiences with a statutory anti-avoidance rule might ... August 31 2010
This content is from: Return of property funds in Thailand Property funds remain entitled to significant tax savings under new rules. But Chinapat Visuttipat of HNP COUNSEL Taxand in Thailand warns that careful planning must be carried out before venturing into this type of i... August 31 2010
This content is from: Claim payments not subject to premium tax Alexander Skowronek and Nathalie Grenewitz of Luther-Taxand in Germany discuss the effect a landmark decision in a car insurance tax case will have on the wider insurance industry. Including diminishing the risk that ... August 31 2010
This content is from: Private equity beware Stephen Rogers of Nexia International member firm, Nexia Court & Company in Sydney, explains what private equity companies need to look out for in Australia. August 31 2010
This content is from: New waters for international business and financial centres Goh Ka Im, Anand Raj and Irene Yong of Shearn Delamore & Co detail how several legislative changes have changed the way investments can be structured, particularly from the Federal Territory of Labuan. August 31 2010
This content is from: Targeting indirect share transfers by foreign investors Jon Eichelberger of Baker & McKenzie in Beijing warns taxpayers about the difficulties raised by circular 698 for foreign investors. The new regulations bring in procedures for reporting that will affect many internat... August 31 2010
This content is from: Rising VAT rates here to stay Several countries have announced or implemented VAT rises in the last few months. Salman Shaheen looks at the growing trend towards higher VAT around the world and why the global recession means it looks set to continue. August 31 2010
This content is from: Report outlines options for US tax reform On August 27 President Obama's Economic Recovery Advisory Board (PERAB) released a report discussing options for reform to the corporate tax and international tax systems. August 30 2010
This content is from: Commission consults on cross-border royalties and interest The European Commission has launched a consultation on amending the Interest and Royalties Directive. August 30 2010
This content is from: India's DTC effective from 2012 India's new Direct Tax Code will now be effective from April 1 2012, one year later than originally planned, said the country's Finance Minister. August 29 2010
This content is from: New Dutch-Japanese tax treaty means reduced withholding tax rates Japan and the Netherlands have renewed their tax treaty, the most significant changes being withholding tax reductions or exemptions for dividends and royalties. August 26 2010
This content is from: Bank's profits boosted as clients take advantage of Liechtenstein Disclosure Facility Liechtenstein bank LGT's first-half profits have risen 6.4% year since last year to Sfr99.6 million ($95.4 million) on the back of the Liechtenstein Disclosure Facility (LDF) launched by local and UK tax authorities i... August 26 2010
This content is from: UPDATE: India passes DTC second draft The Indian government yesterday approved the latest draft of the country's new Direct Tax Code, meaning the new law will be effective from April 1 2011. August 25 2010
This content is from: Advisers slam Spending Challenge The UK government is to review ideas to cut the budget deficit submitted by the public as part of its Spending Challenge exercise. August 24 2010
This content is from: Treasury reassures industry over patent box The UK Treasury has attempted to calm fears from pharmaceutical companies after a newspaper reported that the idea for a patent box, where a reduced corporate tax rate of 10% would apply to income derived from patents... August 23 2010
This content is from: Dwindling returns for HMRC tax amnesties HM Revenue & Customs (HMRC) has netted £89 million ($138 million) from its last two tax amnesties compared to $450 million for its Offshore Disclosure Facility (ODF) in 2007. August 22 2010
This content is from: Uganda plans to amend income tax law to capitalise on oil revenue The Ugandan government wants to amend its income tax law to benefit from the profits expected from oil production in the next couple of years. August 19 2010
This content is from: Department of Energy and US Treasury grant largest-ever investment tax credit August 18 2010
This content is from: Joint Committee on Taxation releases report on president's budget August 17 2010
This content is from: Vodafone's Indian court case concludes The latest round of Vodafone's three-year-long dispute with the tax authorities concluded today. August 17 2010
This content is from: China seeks outsourcing investment The Chinese Ministry of Finance has issued a circular that offers exemptions for businesses involved in offshore service outsourcing. August 16 2010
This content is from: Enter now for the Asia Tax Awards 2010 International Tax Review will present its fifth annual Asia Tax Awards in Singapore on November 23 2010. August 11 2010
This content is from: US jobs bill including $11 billion in international taxes becomes law On August 10 President Obama signed a jobs Bill (HR 1586) that will raise $11 billion in taxes on multinational corporations. August 10 2010
This content is from: Changes to Luxembourg's corporate tax regime Luxembourg's corporate tax rules has been changed to include a minimum flat rate of €1,500 ($2000) income tax, which will apply to entities whose activities are not subject to a business license or do not require the ... August 09 2010
This content is from: Exclusive: Commission rejects news of European taxes The European Commission has rejected newspaper reports that it wants to introduce its own tax throughout the EU. August 09 2010
This content is from: TEI announces new president Paul O'Connor, vice president, taxes for Millipore Corporation in Massachusetts, has been elected president of Tax Executives Institute (TEI). August 09 2010
This content is from: China's reorganisation circular fails to address concerns China's State Administration of Taxation (SAT) has issued guidance on the tax treatment of enterprise reorganisations 15 months after the rules were changed. However, the amendments provide more questions than answers. August 08 2010
This content is from: Hungary approves corporate tax changes The Hungarian parliament approved the corporate tax changes proposed earlier this year, on July 22 2010. August 08 2010
This content is from: Jobs bill includes $11 billion in corporate tax increases The US Senate has approved a jobs bill (HR 1586) that will raise $11 billion in taxes on multinational corporations. August 05 2010
This content is from: US makes changes to business compliance The US government has decided to reorganise its efforts in international tax administration in an effort to improve compliance. August 04 2010
This content is from: IRS announces new rules for gain recognition filings Taxpayers that have failed to comply with regulatory requirements for filing gain recognition agreements (GRAs) will find relief from liabilities and penalties under a new IRS announcement. August 04 2010
This content is from: Italy removes Cyprus and Malta from CFC blacklist Cyprus and Malta have been removed from Italy's blacklist of jurisdictions for the application of controlled foreign company (CFC) rules and provisions on tax residency of individuals. August 02 2010
This content is from: Consensus and conflict in Australian election A new tax on mining is already proving to be highly contentious between the two parties vying to form the next government in Australia after the general election on August 21 August 02 2010
This content is from: William Hill moves telebetting service to avoid levy One of the UK's largest bookmakers has decided to move its telephone betting service to Gibraltar to avoid the horseracing betting levy. August 01 2010
This content is from: UK Finance Bill passed The UK Finance Bill, which enacts several of the government's key tax reforms announced in June's emergency budget, has been passed by Parliament. August 01 2010
