Canada has overcome concerns about America’s Foreign Account Tax Compliance Act (FATCA) and signed a bilateral intergovernmental agreement (IGA) with the US to implement it.
Tax executives are feeling the heat as governments around the world increase enforcement, initiating more audits and disputes. Some, though by no means a majority, believe a concept known in different jurisdictions as horizontal monitoring, enhanced relationships or cooperative compliance may be the key to an improved relationship between both sides.
Ensuring that their company’s interests are protected as tax policy takes shape is not an easy task, but is an essential one for any tax director. However, the choice of representative or industry organisation to align with to achieve that, is not always obvious, explains Ralph Cunningham.
Spain should have to pay the European Commission €50 million ($68 million) and the costs of the case for failing to implement a European Court of Justice (ECJ) decision against tax incentives in good time.
