Speaking at a conference in Austria last week, Jeffrey Owens, the former OECD tax chief, noted that income inequality has grown in the large majority of OECD countries in the last two to three decades, and that tax policy can have a profound impact on this trend, though he warned against a one-size-fits-all solution.
Indian Finance Minister P Chidambaram has confirmed that the major recommendations of the expert general anti-avoidance rule (GAAR) committee will be accepted and that GAAR implementation will be deferred by two years to April 2016.
Japan’s Tax Reform Act 2011 proposed a corporate tax cut, but an earthquake in Tohoku in 2011 derailed those plans and a three-year surtax was levied to assist the post-earthquake recovery. But advisers say now is the time to consider a corporate tax cut.
The prospects for comprehensive reform of the US tax code have been improved by the release of the National Taxpayer Advocate report, which describes the tax code as “the number one most serious problem facing taxpayers” and says it places a “significant, even unconscionable, burden” on them.
Indian Finance Minister, P Chidambaram, confirmed today that the major recommendations of the expert general anti-avoidance rule (GAAR) committee will be accepted and that GAAR implementation will be deferred by two years until 2016.
Stephen McPartland MP has begun publishing FTSE 100 responses to his corporate tax transparency challenge, in which he has asked the chief executive officers of each FTSE 100 company to commit to tax transparency and to a new international accounting standard for country-by-country reporting.
