Lawmakers target beneficial owners as US tops tax secrecy list There are renewed calls for the Corporate Transparency Act in Congress after the US ranked number one on the Financial Secrecy Index. By Danish Mehboob May 23 2022
This week in tax: Indian Supreme Court reaffirms state GST powers The court upheld tax federalism in a landmark case that may spell the end for India’s goods and services tax regime. By Danish Mehboob & Josh White & Siqalane Taho May 20 2022
DEBRA gets lacklustre response from corporate taxpayers The European Commission’s debt-equity bias reduction allowance helps in-house budgets but hurts globalism, say sources. By Danish Mehboob May 19 2022
Tax directors point to gaps in OECD’s crypto reporting template Coinbase and 75 other businesses suggest re-timing e-money rules under the Crypto Asset Reporting Framework to protect growth in the crypto market. By Danish Mehboob May 16 2022
This week in tax: Barclays faces tax scrutiny This week Barclays’ tax affairs came under scrutiny after claims the bank avoided paying UK corporate tax via a Luxembourg structure, while the European Commission put forward its long-awaited proposal... By Danish Mehboob May 13 2022
EU moves to blockchain for withholding tax data sharing The incoming EU withholding tax system (WHT) will use distributed ledger technology (DLT) to seamlessly transfer tax data between member states for faster claims by Q4 2022. By Danish Mehboob May 09 2022
Tax leaders are calling for GloBE administrative guidance from the OECD Several tax administrations and in-house tax directors need standardised implementation guidance from the OECD as 138 countries rush to ready legislation for pillar two’s global minimum tax by December 2022. By Danish Mehboob April 29 2022
Environmental tax policy is important in achieving Earth Day’s objectives Earth Day 2022 marks high government and in-house investment in tax policymaking globally to meet climate change targets. In addition, wider environmental tax policy through alternative carbon pricing is boosting... By Danish Mehboob April 22 2022
Canadian budget delivers on global minimum tax rules and green energy Canadian Finance Minister Chrystia Freeland’s budget does not change corporate tax rates, but it headlines parts of the OECD’s digital tax agenda and Canada’s incoming domestic minimum top-up tax. By Danish Mehboob April 11 2022
EU finance ministers fail to agree on minimum tax directive again The Economic and Financial Affairs Council (ECOFIN) failed to pass the European Commission’s minimum tax directive after Poland vetoed legislation. By Danish Mehboob April 06 2022
