The debate about the UK tax system will focus on the financial industry today with the first hearing by the panel on tax, audit and accounting, which was formed by the Parliamentary Commission on Banking Standards (PCBS) at the end of last year.
While financial institutions await the imminent publication of the final regulations for the implementation of the Foreign Account Tax Compliance Act (FATCA), the US has signed another intergovernmental agreement (IGA) to allow for the easier introduction of the legislation.
BAE Systems has followed Alcoa’s recent example and successfully negotiated an Annual Compliance Agreement (ACA) with the Australian Taxation Office (ATO).
Annual compliance agreements are gaining in popularity in Australia as a means of achieving certainty for taxpayers and improving their relationship with the Australian Taxation Office (ATO). Alan Osborne, finance director of BAE Systems Australia, tells International Tax Review why his company became the latest company to have one.
