This content is from: OECD’s Owens predicts more stability in tax take The OECD’s Jeffrey Owens expects to see continued stability in the tax revenues of member countries for 2011 and 2012. By Joe Dalton November 30 2011
This content is from: ANALYSIS: How FATCA violates fundamental European rights Much has been reported on FATCA, but not on how it breaches the two basic European principles of the right to protect personal data and the free movement of capital. By ITR Correspondent November 30 2011
This content is from: INTERVIEW: Head of EC’s CCCTB unit tackles double taxation In an exclusive interview, Thomas Neale, head of the CCCTB Task Force in the DG Taxation and Customs Union of the European Commission, argues that eradicating double taxation within the EU is an essential pre-requisit... By Joe Dalton November 29 2011
This content is from: REACTION: Why InterContinental welcomes the UK GAAR proposals Following last week’s release of a final review into the feasibility of a UK GAAR, the reactions have been wide-ranging, with some fearing the possibility of added complexity and uncertainty. But the head of tax at In... By Matthew Gilleard November 29 2011
This content is from: AUTUMN STATEMENT: UK raises bank levy and continues objection to FTT George Osborne, the UK Chancellor of the Exchequer, today raised the UK bank levy and reiterated his objection to the UK introducing a financial transactions tax (FTT). By Matthew Gilleard November 29 2011
This content is from: Fiji reduces corporate tax rate The Fijian government on Friday slashed the country’s corporate tax rate from 28% to 20%. By Matthew Gilleard November 28 2011
This content is from: Protocol opens door for investment from Luxembourg to Russia Russian companies should expect more foreign investment from Luxembourg after the two countries signed a protocol to slash the withholding tax rate on dividends. By Joe Dalton November 25 2011
This content is from: Germany eases anti-treaty/directive-shopping rule Today the German Upper House adopted the Act for Implementation of the Directive on the EU Recovery of Tax Claims which includes the amendment of the German anti-treaty/directive shopping rule set forth in Sec. 50d (3... By ITR Correspondent November 25 2011
This content is from: Shulman sets out IRS’s compliance vision The head of the Internal Revenue Service in the US has said his organisation wants to improve large taxpayer compliance and so is committed to cutting the amount of time and resources it takes to resolve issues betwee... By Ralph Cunningham November 23 2011
This content is from: UK CFC update will be out on December 6 The UK Treasury will publish an update on controlled-foreign company (CFC) reform on December 6, the same day as the draft clauses of Finance Bill 2012. By Ralph Cunningham November 23 2011
This content is from: UK disclosure rules are working, say practitioners In a Written Answer to Parliament in London on November 15, David Gauke, a UK Treasury minister, has revealed that almost 500 direct tax avoidance schemes have been disclosed to the UK tax authorities since the end of... By Ralph Cunningham November 23 2011
This content is from: New guidance for corporate tax deferral in Canada After the publication of new proposed rules on corporate tax deferral, the Canada Revenue Agency has now issued guidance dealing with interim filing for the proposals. By Ralph Cunningham November 22 2011
This content is from: EU: A new dawn for further European tax harmonisation A single European market in the area of taxation still does not exist. In practice, this means that multinational corporations doing business in the EU need to navigate their way through (up to) 27 different national ... November 22 2011
This content is from: Top tax issues to be aware of with Australian covered bonds The first Australian covered bonds were issued last week, allowing all Australian banks, credit unions and building societies to access cheaper sources of funding, but there are tax implications, warn advisers. By Matthew Gilleard November 22 2011
This content is from: Finland: Ruling on life insurance saving agreement The Finnish Central Tax Board (CTB) has given a preliminary ruling (KVL 34/2011) regarding taxation in connection with transfers of investments in life insurance saving agreement and capitalisation agreement where the... November 22 2011
This content is from: India: Taxability of procurement activities undertaken by a liaison office The Authority for Advance Rulings (AAR) in the case of Columbia Sportswear Company [2011-TII-21-ARA-INTL], adjudicated on the taxability of procurement activity undertaken by a non-resident company through its liaison... November 22 2011
This content is from: Ten things you need to know about the UK GAAR proposals The issue of a general anti-avoidance rule (GAAR) in the UK has been long-discussed. Now that Graham Aaronson QC has submitted his final report on the feasibility of a UK GAAR to the government, here are 10 things you... By Matthew Gilleard November 22 2011
This content is from: ANALYSIS: US debate on territorial tax system rumbles on Following House Ways & Means Committee chairman Dave Camp’s (Rep-MI) release of a discussion draft proposal to reform the US corporate tax regime in late October, several hearings have taken place which suggest US tax... By Matthew Gilleard November 22 2011
This content is from: TREATY ANALYSIS: Netherlands-Hong Kong DTA The double taxation avoidance treaty (DTA) between Hong Kong and the Netherlands, signed last year, will enter into force in 2012 and will increase the tax planning opportunities for companies in both jurisdictions. By Matthew Gilleard November 22 2011
This content is from: REACTION: Why the UK GAAR report raises issues of complexity and certainty The report into the proposed UK general anti-avoidance rule (GAAR) has been submitted to the government. The report raises various concerns and most stakeholders have reacted by speaking out against the GAAR’s introdu... By Matthew Gilleard November 21 2011
This content is from: The challenges of cutting the US corporate tax rate Tax reform in the US is easier said than done. With the congressional supercommittee failing yesterday to agree on a deal to tackle the nation's deficit, the likelihood of a lower corporate tax rate looks even more un... November 21 2011
This content is from: UK GAAR report submitted to government Graham Aaronson QC has submitted his final report on the feasibility of a general anti-avoidance rule (GAAR) to the UK government, stating that a broad spectrum GAAR would undermine certainty and make the UK less attr... By Matthew Gilleard November 21 2011
This content is from: Inspector’s report highlights need for more compliance data for IRS A lack of information reporting on many cross-border transactions is a substantial challenge for the Internal Revenue Service (IRS) in the US, says a report from one of the Service’s watchdogs. November 16 2011
This content is from: Sponsored Montenegro to maintain competitive tax system To prevent consequences similar to those in the European countries regarding current debt crisis, the Montenegrin government plans to implement a number of economic measures by the end of the year, which will mostly c... November 16 2011
This content is from: Sponsored Amendments to maquila rules enter into force in Mexico On June 30 2011, August 9 2011 and October 10 2011, modifications to the Miscellaneous Foreign Trade Rules were published in Mexico's official gazette. November 16 2011
This content is from: US proposal clarifies exemptions for foreign governments Proposed regulations from the US Treasury provide welcome clarification on the scope of section 892 of the Internal Revenue Code (1986) and increase the exceptions to what is classified as commercial activity. By Matthew Gilleard November 15 2011
This content is from: New Australian schedule will affect cross-border transactions The Australian Taxation Office has announced that it will introduce a new schedule for the 2012 financial year that will affect taxpayers who do business overseas. By Ralph Cunningham November 15 2011
This content is from: Why 2012 will herald greater scrutiny for Danish taxpayers Taxpayers in Denmark should prepare for increased scrutiny in 2012 as the new government looks set to close numerous corporate tax loopholes as early as January. By Matthew Gilleard November 15 2011
This content is from: How to comply with Brazil’s updated consortium rules The Federal Revenue of Brazil has updated rules on how consortiums are regulated with changes on how to contract on behalf of a consortium, elect a leader company, and bill a consortium’s operations. By Matthew Gilleard November 15 2011
This content is from: Obama picks new assistant secretary for tax policy After six months, the US government has a new official responsible for tax policy. November 15 2011
This content is from: Country-by-country reporting wins UK Treasury support A UK Treasury minister has told Parliament in London that his government is in favour of a European reporting system for companies in the extractive industries. By Ralph Cunningham November 14 2011
This content is from: How the G20 is tackling tax secrecy David McNair, principal economic justice adviser at Christian Aid, London, analyses how well G20 countries are living up to their 2009 commitments to support poor countries’ tax collection and crack down on tax haven ... November 14 2011
This content is from: India set to delay DTC, but likely to introduce CFC, GAAR & POEM in February Indian taxpayers thinking they had six months to prepare for the Direct Taxes Code (DTC) were dealt a blow today with the news that certain aspects of the new law are likely to be brought forward by two months. By Jack Grocott November 14 2011
This content is from: Tax to be at forefront as Mario Monti takes Italy’s top job Mario Monti, Italy’s new Prime Minister, is likely to place taxation high on his government’s agenda and will put his experience as former European Commissioner for tax to good use. By Salman Shaheen November 14 2011
This content is from: EU changes tax and customs assistance for member states The European Commission hopes to boost the effectiveness of the Internal Market by reforming how the EU supports cooperation between customs and tax authorities. November 11 2011
This content is from: How tax administration in Malta will change Malta has reformed the structure of its tax administration to bring four organisations together under a new chief, who will be known as the commissioner for revenue. By Ralph Cunningham November 09 2011
This content is from: FREE: New list of software and forms for UK tax returns HM Revenue and Customs has published the latest list of software and forms for corporation tax return filing purposes in the UK. November 09 2011
This content is from: FREE: Canada seeks comments on tax law changes The Canadian Department of Finance has released for public comment a package of draft legislative proposals relating to a number of technical changes to the country’s tax laws. By Jack Grocott November 09 2011
This content is from: IBA 2011: How to manage group taxation around the world Many jurisdictions have systems in place to tax multiple companies together as if they were a singular taxable unit. But how do approaches to group taxation vary in different parts of the world? November 08 2011
This content is from: France to tax companies 5% more in second austerity package The French government has announced that companies with revenue over €250 million ($344 million) will be hit with an additional corporate tax equal to 5% of their assessed tax, for the fiscal years 2011 and 2012. By Matthew Gilleard November 08 2011
This content is from: IBA 2011: The benefits of being a JITSIC member David Gillon, representative of HMRC in the UK and the Joint International Tax Shelter Information Centre (JITSIC), told delegates at the IBA annual conference of the benefits that JITSIC is providing. November 08 2011
This content is from: IBA 2011: What to look for in investment structures in high-growth countries The global trends section of the programme presented by the IBA Taxes Committee in Dubai last week explored emerging trends in investment structures for India, Russia, Cyprus, Singapore and China, and examined the sim... November 08 2011
This content is from: G20 hears of strong progress from exchange of information group Only eight jurisdictions around the world fulfil all the elements required for effective exchange of information, G20 leaders were told at their summit in Cannes today. November 04 2011
This content is from: US must improve knowledge management, says LB&I commissioner The commissioner for large business at the IRS has outlined a plan to improve the department’s information sharing structure after admitting they “are not very good at collaborating” within the organisation. November 02 2011
This content is from: How information exchange will benefit taxpayers Taxpayers will have to put up with an increased compliance burden as global efforts to improve information exchange grow, but the benefits are just around the corner, say international specialists. November 02 2011
This content is from: The OECD does not have all the answers Responding to Pascal Saint-Amans’s comments in an exclusive interview with International Tax Review, Martin Hearson, policy adviser at ActionAid, argues that the OECD does not have all the answers in the formulation o... November 02 2011
This content is from: IBA 2011: The increasing convergence of taxpayers and tax administrators The hurdles for information request and exchange are becoming lower, Gert Mueller-Gatermann, international taxation representative of the German Federal Ministry of Finance, yesterday told IBA delegates attending a se... November 02 2011
This content is from: EXCLUSIVE: Saint-Amans defines role as OECD's new head of tax When Jeffrey Owens announced his retirement as head of tax policy and administration at the OECD, the race was on to replace one of the most important figures in global tax affairs. Pascal Saint-Amans is that man and,... November 02 2011
This content is from: UK reforms to cost £2 billion a year, HMRC official tells tax executives The UK’s efforts to make the country’s tax system the most competitive in the G20 will end up costing the exchequer £2 billion ($3.2 billion) a year, says a senior HMRC official November 01 2011
This content is from: Chile: Additional withholding tax applicable to the forgiveness of interest According to Article 59 No 1 of the Chilean Income Tax Law (ITL), interest remitted abroad is subject to additional withholding tax. November 01 2011
This content is from: Sponsored EU: A new dawn for further European tax harmonisation A single European market in the area of taxation still does not exist. In practice, this means that multinational corporations doing business in the EU need to navigate their way through (up to) 27 different national ... November 01 2011
This content is from: Sponsored Albania: Albania-Ireland tax treaty enters into force The income tax treaty that was signed back in October 2009 for the avoidance of double taxation and prevention of fiscal evasion between Albania and Ireland entered into force on July 12 2011 and will be applicable fr... November 01 2011
This content is from: Thailand: Recent cases of anti-avoidance In recent years, the courts of both lower and higher courts have ruled in favour of the tax authorities. It is interesting to learn from the lessons of this development. November 01 2011
This content is from: World Tax 2012 is now online World Tax 2012, International Tax Review's directory of the leading tax advisory firms around the world is now available online. November 01 2011
This content is from: IBA learns of deeper GCC tax systems One of the most frequently asked questions about tax in the Gulf Cooperation Council (GCC) countries is: what does a tax adviser do in a tax-free environment? Delegates at the International Bar Association’s annual co... November 01 2011
This content is from: What Republicans want in new US tax system US corporations are fully behind the principles in a discussion draft from members of the House Ways and Means Committee on moving to a territorial tax system, if early reaction is a good guide. By Ralph Cunningham November 01 2011
