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.
The US Department of Justice (DoJ) believes the defeat of a challenge to the validity of interest-reporting regulations has boosted the government’s efforts to clamp down on US taxpayers who do not declare income and assets held overseas.
