How the tax affairs of trusts are managed and claims for capital gains tax (CGT) relief will come under the Australian Taxation Office’s scrutiny in the next 12 months.
Another US Republican Congressman has taken aim at the Foreign Account Tax Compliance Act (Fatca) in a bid to have the controversial legislation stopped.
Financial institutions, other taxpayers and practitioners have until September 6 to respond to a HM Revenue & Customs (HMRC) discussion draft on the implementation of exchange of tax information agreements between the UK and its Crown Dependencies and Overseas Territories with financial centres, which the UK government believes will set a new standard in international tax transparency.
Tax authorities within the EU will have to comply with much more extensive rules on the automatic exchange of tax information, if member states adopt a European Commission proposal unveiled today.
