ITR Search | International Tax Review

FASB votes to defer effective date of revenue recognition standard

The Financial Accounting Standards Board (FASB) voted on July 9 to approve a one-year deferral of the effective date of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers.

Ralph Cunningham, July 09 2015

India’s Rs 20,000 crore demand disrupts Cairn merger

The Indian Income Tax Department (ITD) has decided to pursue a Rs 20,495 crore ($3.2 billion) tax case against Cairn India, jeopardising the company's proposed reverse merger with parent company Vedanta, the Central Board of Direct Taxes (CBDT) has confirmed.

Joe Stanley-Smith, July 09 2015

Vicious and virtuous circles: Planning for change with Schroders’ group tax head

Joe Stanley-Smith talks to Sue Cooper, group head of tax at global asset management company Schroders, about inter-departmental cooperation, planning for change and the difference between vicious and virtuous circles.

July 09 2015

Saint-Amans and Bhatia hit out at EU non-cooperative list

The OECD, and the Global Forum on Tax Transparency and Exchange of Information, which it organises, have moved to assert their preeminence as the international bodies that discuss and decide on transparency and exchange of information standards. The OECD's Pascal Saint-Amans and Monica Bhatia have described as "very unfortunate" the publication by the EU Commission of a list of the top 30 non-cooperative jurisdictions blacklisted by EU member states.

Ralph Cunningham, July 09 2015

Ghana amends VAT Act; hits real estate but exempts pharmaceuticals

Ghana has approved amendments to its VAT Act The Ghanaian Parliament has approved several amendments to its VAT legislation, dealing a blow to real estate developers and making several additions to the list of exempted goods and services.

Joe Stanley-Smith, July 09 2015

Why tax treaties matter in Iraq’s evolving taxation landscape

Imtiaz Ahmad of PetroChina argues the development of a tax treaty network would help the Iraqi government convince investors to support the revival of the economy.

July 09 2015

Hatch and Ryan voice US BEPS concerns

The level of US engagement with BEPS deliverables will be central to the project’s success The Republicans leading the US Congress' two tax-writing committees have called on Jacob Lew, Treasury Secretary, to "remain engaged with Congress" as proposals related to the OECD base erosion and profit shifting (BEPS) project continue to be developed.

Matthew Gilleard, July 09 2015

Switzerland makes Bitcoin VAT exempt

Tax administrations around the world are making decisions on the tax treatment of Bitcoin The Swiss Federal Tax Administration has confirmed that VAT does not apply to Bitcoin in Switzerland, adding further credence to the cryptocurrency. The exemption is good news for any business which uses or trades in Bitcoin, including the world's first Bitcoin bank, which will launch soon in the central European country, enabling them to carry out their business in the knowledge they are not breaking the law.

Joe Stanley-Smith, July 09 2015

India's MAT: The government is listening

Poonam Khaira Sidhu, commissioner and departmental representative at the Income Tax Appellate Tribunal (ITAT), New Delhi, talks about open dialogue between authorities and taxpayers, and the evidence that the Indian government is listening to investor concerns.

July 09 2015

BEPS implementation in the US - Now comes the hard part

While the OECD has political backing and momentum behind it, the organisation has no binding authority to implement legislation, so the engagement of key jurisdictions including the US will be central to the project's ultimate success. Ryan Dudley, partner at Friedman, explains why the hard yards still lie ahead.

July 09 2015

Search results for