The OECD has published its draft commentary on the International VAT Neutrality Guidelines, expanding on the six core guidelines approved by the Committee on Fiscal Affairs (CFA) last July.
The Oxford University Centre for Business Taxation (CBT) has assessed how close the UK government has come to achieving its stated ambition to “create the most competitive corporate tax regime in the G20”, highlighting that there is still work to be done.
The committee charged with providing the Indian government with recommendations on the implementation of the general anti-avoidance rules (GAAR) has submitted its findings, including recommendations regarding the threshold for triggering GAAR and its application for foreign institutional investors.
The OECD has recommended that the US should reduce its corporate tax rate, joining the voices of many tax directors, advisers, politicians and industry groups who have already stated the case for reform.
COMMENT: Yesterday marked the introduction of Australia’s carbon pricing mechanism, with companies being charged A$23 ($23) a tonne for their carbon dioxide emissions. Prime Minister Julia Gillard has swum against the tide to drive through the unpopular measure, but her efforts might be in vain and could also cost her the premiership.
