US corporations are fully behind the principles in a discussion draft from members of the House Ways and Means Committee on moving to a territorial tax system, if early reaction is a good guide.
The OECD project on the transfer pricing aspects of business restructuring has clarified a lot of the issues around the topic since it began in 2005, but uncertainties still remain, the annual congress of the International Fiscal Association (IFA) was told on Monday.
Two new OECD tax initiatives could be up and running soon if remarks by Jeffrey Owens, the outgoing director of the organisation’s Centre for Tax Policy and Administration, are followed through.
The chances of the successful implementation of a common consolidated corporate tax base in the EU in the near future are mixed, if the opinion of a panel at the IFA annual congress is a good guide.
Jeffrey Owens has said a small group of developed countries should not decide how governments should redesign their tax systems in response to the global financial turmoil.
EU member states are not allowed to withhold input VAT repayments even where the taxable person has not paid the full amount in a transaction, the European Court of Justice has ruled.
