France stands at the crossroads as the world watches to see the outcome of its new financial transaction tax (FTT). But given progress with the European Commission's broader model, it is unlikely to last long.
BT and GMAC’s victory in a landmark case at the UK’s Upper Tier Tax Tribunal earlier this month allowing them to claim VAT rebates on bad debts from 1973 to 1997, opens the door for many other companies to make claims of their own.
Advanced pricing agreements (APAs) have long been hailed for the certainty they provide to taxpayers and authorities. But they can also be a useful tool in tackling avoidance with sufficient transparency.
EXCLUSIVE: It is a busy time for the European Commission with plans underway to reform the EU’s VAT system, introduce a financial transactions tax (FTT), anti-fraud measures and a one stop shop. Algirdas Semeta, commissioner for taxation, customs union, audit and anti-fraud, talks to International Tax Review about the progress being made, the challenges ahead and his indirect tax plans for the future.
