ITR Search | International Tax Review

Status of constitutional appeal against electronic record uploading in Mexico

On November 26 2014, the Mexican Supreme Court ruled, through a contradiction, that taxpayers should be granted a suspension for the obligation to upload their accounting records electronically until the constitutional appeal (amparo) against such obligation is decided.

December 11 2014

Average OECD VAT rates up 8.5% in five years

The average standard VAT rate in the OECD has risen 8.5% in the past five years and will reach an all-time high of 19.1% in January 2015.

Joe Stanley-Smith, December 11 2014

OECD tax revenues approaching pre-crisis levels

Tax burdens in the OECD rose 0.4 percentage points in 2013 to an average of 34.1% of GDP, following rises of 0.3 percentage points in both 2012 and 2011.

Joe Stanley-Smith, December 11 2014

TP expert joins NERA from Bates White

NERA Economic Consulting has announced that Patrick Breslin will be joining the firm’s transfer pricing practice as vice president.

December 11 2014

Luxembourg releases paper on tax transparency amid “Lux leaks” controversy

On December 10 the Luxembourg Ministry of Finance released proposals relating to tax transparency and advance rulings. This move comes as no surprise in the light of the recent “Lux leaks” scandal and appears to be a strategic attempt at advertising Luxembourg’s willingness to fight tax evasion.

Sophie Harding, December 11 2014

Learning from Lone Star: What the company’s second win in Korean court can teach MNCs

Lone Star emerged as a winner for the second time in a case against the Korean tax authorities in the Seoul district court in late November. The court ruled that the Namdaemun District tax office owes the American-owned private equity firm $159 million (177.2 billion won) of previously collected capital gains tax on the company’s sale of its 51% stake in Korea Exchange Bank (KEB) in 2011.

December 10 2014

Consensus over definition of intangibles and location savings increasingly unlikely

Action 8 of the OECD’s BEPS project on the transfer pricing aspects of intangibles aims to achieve universal consensus over definition. However, this is beginning to look like an impossible task, with influential BRIC countries such as India, making their own interpretations.

Sophie Harding, December 10 2014

Ethan Harris becomes new Shearman & Sterling partner

Ethan Harris, who became a counsel at Shearman & Sterling in March 2012, has now become a partner of the firm's tax group in its Washington, DC office.

December 09 2014

FTT delayed again as countries fail to reach agreement

The European financial transaction tax (FTT) is unlikely to be implemented by January 1 2016 as planned.

Joe Stanley-Smith, December 09 2014

Tax tips for multinationals in the Netherlands

There are only a few weeks before another new year. Now is an opportune moment to review your tax strategy and to consider whether Dutch tax laws require your company to take action before January 1 2015. The next few weeks can also be used to prepare for anticipated new tax legislation in the Netherlands.

December 09 2014

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