The Swiss Bankers Association (SBA) has stated that Switzerland’s tax agreement with the UK, which entered into force on January 1 2013, will result in far less revenue for the UK exchequer than previously assumed.
As part of its efforts to alter its perception in the tax world, Mauritius has signalled its willingness to renegotiate the tax treaty it has with India by offering to insert a limitation of benefits (LOB) clause to prevent abuse of the double taxation avoidance agreement.
Dave Camp and Max Baucus, the chairmen of the US’ two tax-writing committees, have kicked off their bipartisan tax reform road-show (The Simpler Taxes For America Tour) in Minnesota, with Baucus conceding that getting the corporate tax rate down to 25% is “a bit of a stretch”.
A report released yesterday by the US Government Accountability Office (GAO) indicates that effective tax rates (ETRs) for American companies are well below the top statutory tax rate of 35%.
Belgium is to shut down a loophole that allows companies to avoid corporate taxation on annual dividend distributions to shareholders, the government has confirmed.
