India’s new Finance Minister Palaniappan Chidambaram has cast doubt over the future of the Direct Taxes Code (DTC), and now advisers say it may be permanently shelved.
A report from the UK Parliament’s International Development Committee has highlighted the importance of tax collection in developing countries, demanding greater transparency and country-by-country reporting.
Now that Paul Ryan has been confirmed as Mitt Romney’s running mate in November’s US presidential election, the focus on his tax policy ideas will intensify dramatically. One of the more eye-catching features of Ryan’s 2010 Roadmap for America’s Future Act was the proposal to replace corporate income tax with an 8.5% consumption tax.
France has amended its Finance Act to include a 3% surtax on dividend distributions, changes to the controlled foreign company (CFC) rules, and further restrictions on tax loss carryforwards.
