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”.
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.
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.
