Norway is to implement changes to the corporate tax regime in a bid to stimulate investment and maintain competitiveness with other European countries, with a company tax cut and an increased depreciation allowance on the horizon.
The Australian budget 2013-14 is one week away, and while taxpayers want a corporate tax cut, they should prepare for tightened thin capitalisation rules and a reformed research and development (R&D) tax incentive, though there is good news regarding exploration.
Ernst & Young is the latest organisation to dampen US tax reform spirits, producing a survey which indicates that pessimism regarding reform among corporate and tax executives has never been higher.
Max Baucus, Senate Finance Committee chairman, has decided to not seek re-election and opinion is divided over whether this announcement improves or hampers the prospects for a comprehensive reform of the US tax code.
