Ali Noroozi, Inspector-General of Taxation (IGT) at the Australian Taxation Office (ATO), today announced the terms of reference for his review into the ATO’s use of compliance risk assessment tools, calling for stakeholder submissions.
Since Hong Kong amended its tax law in 2010 to enable the adoption of the latest OECD information exchange standards in its tax treaties, it has made several moves to negotiate new treaties, and a double tax treaty with Switzerland is the latest such development.
President Barack Obama and his Republican opposite Mitt Romney are not the only ones travelling the length and breadth of the country to try and raise support for their campaign. The RATE Coalition, a bipartisan coalition of businesses and associations, has also been touring the states advocating US tax code reform.
The Business Tax Working Group (BTWG), appointed by Treasurer Wayne Swan in 2011 to explore ways in which a corporate tax cut could be funded from within the business tax system, has produced its draft final report, saying it is “unable to recommend a revenue neutral package to lower the company tax rate”.
The recommendations of the Parthasarathi Shome-led committee regarding the validity and appropriateness of retrospective amendments to the Indian tax law in light of the retroactive law change following Vodafone, have now been publicised. The panel urged that using retrospective amendments should be reserved for exceptional and rare cases.
