The US IRS and Treasury last week finalised regulations dealing with the branch rules of the Internal Revenue Code, with implications for controlled foreign corporations (CFCs) and their US shareholders.
The Dutch government has followed steps taken by the UK and unveiled plans to tax banks and other financial institutions. The new levy is expected to generate €300 million ($391 million) a year.
This month’s decision by the Brazilian government to reduce the financial transactions (IOF) tax rates on the exchange of currency into Brazilian reals for investments in the Brazilian financial and capital markets heralds the beginning of further tax cuts to boost growth.
The Australian government’s plan to build the country’s reputation as a global financial services centre took a step forward last week when it finalised the country’s investment manager regime (IMR).
Julia Gillard’s Australian government continues to face strong criticism from business with regards to the controversial minerals resource rent tax (MRRT).
The Senate Finance Committee and the House Ways and Means Committee met yesterday for a joint hearing to assess what the future holds for the tax treatment of financial products in the US.
