The much-anticipated filing last week of Twitter’s S-1 document with the Securities and Exchange Commission before its initial public offering (IPO) also revealed the micro-blogging site’s tax position.
The UK tax authorities said they will adopt the country-by-country reporting provisions of the EU Capital Requirements Directive 4 (CRD4) and Capital Requirements Regulation (CRR) proportionately and in a way that is consistent with how other member states implementing them and with international tax transparency initiatives, even though the government voted against them in the European Council.
The Government Accountability Office (GAO) in the US has criticised the Internal Revenue Service (IRS) for failing to evaluate whether the goals of its Compliance Assurance Process (CAP) are being met and whether to expand the progamme.
