As part of the country’s continued efforts to increase corporate transparency, Myanmar will implement the Extractive Industries Transparency Initiative (EITI), Minister of Industry U Soe Thein confirmed last week.
Opinions have been split over the effectiveness of the UK’s patent box, despite the country’s innovation tax regime being given a boost this week with the news that the online retailer, Amazon, is to open its global R&D development centre in London later this year.
As the focus on the tax arrangements of large corporations continues to grow, the waiving of corporate tax breaks by sponsors of the London 2012 Olympic Games is a sign that companies are beginning to treat tax transparency more and more seriously.
In the latest of a series of hearings looking at comprehensive reform of the US tax code, the Ways and Means Committee last week assessed the issue of reform and its impact on the manufacturing sector, with manufacturers disagreeing over which tax breaks they would be willing to give up to accommodate a lower corporate tax rate.
