Two orthopaedic surgeons from Christchurch, New Zealand have lost their tax dispute with the Inland Revenue Department (IRD), having used company and trust structures to artificially lower their salaries and thereby circumvent the top level of income tax.
The US Senate Finance Committee last week held a hearing to examine the tax code and propose recommendations for reform to the Joint Select Committee on Deficit Reduction, but the witnesses only agreed on one thing: that the corporate tax rate should be lowered.
The UK and Hungary have signed a comprehensive agreement for the avoidance of double taxation that will provide increased cross-border certainty between the two countries.
Scottish football club Rangers FC is in the middle of two tax disputes with HMRC, both dating back to before present owner Craig Whyte took over the club.
A report from the World Bank is calling for increased transparency and exchange of information on beneficial ownership to stop tax dodgers and to create a fairer environment for developing countries’ tax authorities to operate in.
A forum will be held on October 4 and 5 to assess the future of Australia’s tax system, and Deputy Prime Minister and Treasurer, Wayne Swan, today told International Tax Review that attendees can discuss whatever issue they like, but that there are separate processes for some taxes.
