The European Commission said the regime contravenes certain provisions in the EU’s Code of Conduct on Taxation. The code is voluntary, but if the UK does not acknowledge the opinion (delivered to finance ministers on Tuesday) it would be the first time a member state’s government has ignored a commission opinion.
Joe Hockey, Australian Treasurer, told the American Australian Association last week in New York that Australia is open for business and open for investment as he announced a “new era” of tax reform.
The UK government has announced three changes to the Code of Practice on Taxation for Banks, including a move to publicly name those banks or financial institutions that breach the code.
The UK has signed agreements to automatically share tax information with the Isle of Man and South Africa as it builds on initiatives aimed at greater cooperation on tax issues.
The Securities and Exchange Commission (SEC) has closed its review of Apple’s finances, concluding that the company has done nothing wrong regarding its overseas cash management and related tax issues.
Serbia is trying to attract increased levels of foreign investment by offering new tax incentives including a 10 year corporate tax exemption for companies satisfying certain criteria.
