Michael D’Ascenzo, a leading figure in multilateral cooperation against offshore tax evasion, is stepping down as the Commissioner of the Australian Taxation Office (ATO) at the end of 2012, when his seven-year term is up.
Penalties, compliance risk assessment tools and transfer pricing management, and how the Australian Taxation Office (ATO) approaches them are to come under the gaze of the government official responsible for reviewing how the office operates.
Hot on the heels of the presentation of the primetime Emmy awards earlier in the week, the seventh annual Americas Tax Awards ceremony took place in New York on September 27.
Douglas Shulman, the outgoing commissioner of the Internal Revenue Service (IRS) in the US, has identified transparency, timeliness and certainty as important elements of a “well functioning tax system in a global environment”.
The definition of management fees varies substantially around the world and that is leading to tax authorities mounting more and more challenges to what companies believe they are entitled to deduct from their taxable income under this heading.
