John Engler, Business Roundtable (BRT) president and former Michigan governor, said yesterday that inaction from Washington leaders on corporate tax and other issues has caused uncertainty for businesses and stalled economic recovery.
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.
The UK government has opened a consultation period for tax executives and practitioners to comment on the design of a cultural test for eligibility to benefit from certain tax reliefs for the creative sector.
Last week’s live televised debate between President Barack Obama and his Republican challenger, Mitt Romney, saw moderator Jim Lehrer try to draw out for the electorate the differences between the two men’s policies, including when it comes to corporate taxes.
Earlier this year, the Finnish government announced its intention to introduce an interest deduction limitation for companies. The EBITDA-based interest deduction limitation proposal was met with opposition from various lobbyists, and the proposals have subsequently been amended.
Australia’s Assistant Treasurer, David Bradbury, has announced that the country has ratified the Convention on Mutual Administrative Assistance in Tax Matters.
