This content is from: FREE: REITs in the Philippines may no longer be a suitable option The Philippines has finally issued the much-delayed revenue regulations governing the tax incentives granted to real estate investment trusts (REITs). By Jack Grocott July 31 2011
This content is from: Canada considers changing taxation of SIFTs Canadian Finance Minister Jim Flaherty announced possible plans to close a corporate tax loophole associated with specified investment flow-through (SIFT) entities. July 31 2011
This content is from: Indian taxpayers face challenging future Next year will herald a widescale period of change for tax in India. It will force tax directors from domestic and international companies to completely reconsider their strategies and to seek efficiencies at all leve... By ITR Correspondent July 31 2011
This content is from: UK government divided over 50p tax rate The 50p tax rate is a significant factor for companies in choosing where to locate and a key means of convincing people that the coalition’s deficit reduction programme is not just hitting the poor. Cracks, however, a... July 31 2011
This content is from: India wades into EU airline tax debate India’s aviation ministry has formally opposed the EU’s plans to tax airlines on the basis of carbon emissions from the start of 2012. By Jack Grocott July 27 2011
This content is from: HK issues guidance on special stamp duty The Hong Kong Inland Revenue Department has finally issued interpretation and practice notes concerning the special stamp duty, eight months after the levy was first introduced. By Jack Grocott July 26 2011
This content is from: New tax haven legislation has implications for FATCA Senator Carl Levin has proposed legislation which relieves the US Treasury Department from developing a list of offshore tax havens and instead aims to clarify when foreign financial institutions and US taxpayers woul... July 26 2011
This content is from: New head of Russian and CIS tax practice for Goltsblat BLP Goltsblat BLP has announced Evgeny Timofeev’s appointment as a partner. He will lead the firm’s Russian and Commonwealth of Independent States (CIS) tax practice. July 25 2011
This content is from: Indian taxpayers face challenging future Next year will herald a widescale period of change for tax in India. It will force tax directors from domestic and international companies to completely reconsider their strategies and to seek efficiencies at all leve... By ITR Correspondent July 25 2011
This content is from: New Zealand weighs up capital gains tax Opinion in New Zealand is divided over the issue of whether or not a comprehensive capital gains tax (CGT) should be introduced. By Matthew Gilleard July 25 2011
This content is from: IRS names new deputy chief counsel As of August 28, Erik Corwin, most recently a partner at Ropes & Gray in Washington DC, will be serving as the IRS's Deputy Chief Counsel (Technical). July 24 2011
This content is from: China eliminates double tax on restricted stock transfers China’s State Administration of Taxation has issued guidelines to reduce the risk of double taxation of gains where businesses transfer restricted stocks that they hold on behalf of other businesses. By Jack Grocott July 24 2011
This content is from: How EU leaders put pressure on Irish tax policy A statement from European leaders, after an emergency meeting last night in Brussels, included a comment about the possible future direction of Irish tax policy. By Ralph Cunningham July 21 2011
This content is from: Delay in FATCA implementation spells relief for foreign institutions Financial institutions are more relaxed in light of the Internal Revenue Service’s (IRS’s) and the US Treasury Department’s July 14 announcement that promulgation of the Foreign Account Tax Compliance Act (FATCA) will... July 20 2011
This content is from: FREE: Asia taxpayers offer advice on how to avoid scrutiny Multinational companies in Asia need to “think on their feet” and “simplify existing structures” if they are to avoid the attention of increasingly revenue-hungry tax authorities, says a group of the region’s leading ... By Jack Grocott July 19 2011
This content is from: UK gambling licence change may see offshore firms taxed The UK’s gambling laws are set to change, enabling the government to tax gaming firms located overseas, though not for some time. By Matthew Gilleard July 18 2011
This content is from: FATCA implementation delayed until 2014 On July 14 the US Treasury Department and the Internal Revenue Service (IRS) issued Notice 2011-53, which includes dates by which foreign financial institutions and US withholding agents must apply the rules in the Fo... July 14 2011
This content is from: Opportunities in new China-UK tax treaty Groups with interest in China should begin planning now to gain the maximum benefit from the new double tax treaty between China and the UK. By Jack Grocott July 14 2011
This content is from: House Bill threatens IRS funding On July 13 President Obama warned that he planned to veto a Bill from the House of Representative’s appropriations committee that would cut funding to the IRS. July 13 2011
This content is from: Gauke defends UK government’s record Exchequer Secretary, David Gauke, defended the UK government’s record on tax as he addressed Oxford University Centre for Business Taxation’s (CBT) summer conference this week. By Salman Shaheen July 13 2011
This content is from: HMRC must try harder, UK Treasury committee hears The latest meeting of the Treasury sub-committee at the House of Commons on Wednesday looked at closing the tax gap, with the technical panel insisting more active measures must be taken by HM Revenue & Customs (HMRC)... By Matthew Gilleard July 13 2011
This content is from: UK government’s tax reforms will fail to meet competitiveness objectives The UK’s ambitious plans to have the most competitive tax system in the G20 are way off course, says a group of leading taxpayers and academics. By Salman Shaheen July 11 2011
This content is from: ATO signals focus on tax avoidance by foreign companies The Australian Taxation Office (ATO) is targeting foreign companies that shift profits offshore to reduce their local tax liability. By Matthew Gilleard July 11 2011
This content is from: Debt ceiling debate raises questions about US tax reform As the August 2 deadline to raise the US debt ceiling approaches, members of Congress are calling on President Obama to negotiate a deal that will encompass far-reaching measures, including comprehensive tax reform. July 10 2011
This content is from: Why you can escape a Czech Republic tax inspection Taxpayers are in luck if they are audited by the tax office in the second district of Prague. July 10 2011
This content is from: US senator prepares to unveil anti-avoidance Bill Michigan Senator Carl Levin is scheduled to present in a press conference tomorrow a revised version of earlier legislation he introduced in 2009 to fight tax avoidance. July 10 2011
This content is from: Panama moves onto OECD white list The OECD on July 6 officially moved Panama onto its white list for tax-transparency compliant jurisdictions. July 06 2011
This content is from: UK government attempts to allay oil company fears over North Sea taxes The Treasury has announced that the annual rate of the Ring Fence Expenditure Supplement (RFES) for the North Sea will be increased from 6% to 10% in an attempt to appease oil companies angry over higher oil taxes ann... By Salman Shaheen July 05 2011
This content is from: Hong Kong confirms 10% dividends withholding tax from China Hong Kong’s Financial Services and Treasury Bureau (FSTB) has confirmed that dividends paid to Hong Kong investors by companies in China will be subject to a 10% withholding tax. By ITR Correspondent July 04 2011
This content is from: Peru’s president-elect contemplates mining tax hike Raising taxes on mining was a key plank in newly elected Peruvian President Ollanta Humala’s campaign platform. Now that the leftist politician won the resource-heavy South American nation’s highest office, multinatio... July 04 2011
This content is from: Mumbai to increase tax take as India grows The Mumbai tax department, which accounts for 35-40% of the country’s total tax take, plans to collect 17.2% more corporate tax than last year. By ITR Correspondent July 04 2011
This content is from: Panama-Spain double-taxation treaty to enter into force In one of the country’s many bids to shed its reputation as a tax haven, Panama inked a double-taxation treaty with Spain on October 7 2010. July 04 2011
This content is from: Fresh questions raised over Vodafone settlement Controversy emerged at a UK parliamentary hearing last week when one witness raised questions over the timing of the settlement of a tax dispute between Vodafone and HM Revenue & Customs (HMRC). By Salman Shaheen July 03 2011
This content is from: Germany plans tax cuts for 2013 Germany is debating a €10 billion ($14.5 billion) tax cuts package for the next two years after an upturn in the economy. By Matthew Gilleard July 03 2011
