ITR Search | International Tax Review

SMEs are not keeping pace with HMRC’s transfer pricing approach

HM Revenue & Customs (HMRC) has been targeting mid-sized companies’ transfer pricing arrangements and has increased its yield over the 2012 to 2013 accounting period by more than £100 million ($164 million) on the previous year. But small and medium-sized enterprises (SME) are not keeping pace with HMRC’s focus.

Sophie Ashley, February 11 2014

Ex-DuPont Brazil CFO joins Hirashima & Associados

Cristina Sampaio Cavalieri Teixeira has joined Hirashima & Associados as the partner responsible for leading the firm’s tax consulting department.

Matthew Gilleard, February 10 2014

Non-filing of income tax returns can bring prosecution, Indian Supreme Court rules

The Supreme Court of India in a recent judgment (Sasi Enterprises v Assistant Commissioner of Income Tax Criminal Appeal No 61/2007) categorically declared it is a taxpayer / assessee’s statutory obligation to file a tax return and non-filing is an action liable for prosecution.

February 07 2014

Intergovernmental agreement brings Canada into FATCA net

Canada has overcome concerns about America’s Foreign Account Tax Compliance Act (FATCA) and signed a bilateral intergovernmental agreement (IGA) with the US to implement it.

Ralph Cunningham, February 07 2014

City fund managers waking up to the risks of tax opacity

You might not expect City fund managers to feature very prominently among the growing ranks of tax activists, but times are changing, writes Mike Lewis of ActionAid.

February 07 2014

European Court says Hungarian tax on retail sector indirectly discriminated against overseas taxpayers

The European Court of Justice (ECJ) has decided, in the Hervis Sport case, that a turnover tax that disadvantages linked undertakings, within a group, to companies established in another member state constitutes indirect discrimination.

February 07 2014

Marvel and Ashford get Senate Finance thumbs-up for US Tax Court

The US Senate Finance Committee has unanimously approved the nominations of Paige Marvel, for a second term, and Tamara Ashford, who is new to the bench, to be judges of the US Tax Court.

February 07 2014

EU digital VAT rule change forces Luxembourg to raise rates

Luxembourg will be hit hard by next year’s changes to the EU digital VAT rules.

Salman Shaheen, February 06 2014

Chidambaram hopes dashed on Indian DTC prospects

Palaniappan Chidambaram, India’s finance minister, said this week that the Direct Taxes Code (DTC) and goods and service tax (GST) Bills will not be passed in the current Parliamentary session, despite telling International Tax Review in December that he was hopeful of passing the heavily-delayed DTC Bill in the winter session.

Matthew Gilleard, February 06 2014

OECD seeks increased tax transparency from multinationals

The OECD has released a discussion draft outlining its proposals on information that multinationals may be required to disclose to tax authorities about their global operations.

February 06 2014

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