ITR Search | International Tax Review

Auto industry – bumpy rides ahead

With the auto industry in China growing at a breakneck pace, the Chinese authorities are placing it under close scrutiny on issues ranging from Customs duties, indirect tax and transfer pricing. William Zhang, David Ling and Sam Fan of KPMG China examine the tax challenges lying ahead for car manufacturers and producers of auto parts and components in China, and ways to deal with those challenges.

November 29 2013

Healthcare industry – under closer scrutiny than ever

China will be a crucial player in the healthcare & life sciences industry soon, including being a global leader in drug discovery and innovation. It is unsurprising then that the pharmaceutical industry has come under the scrutiny of Chinese authorities, including those in tax. Grace Xie, Henry Ngai and Ho-Yin Leung of KPMG China discuss the challenges facing the healthcare industry in China in 2014.

November 29 2013

Brazilian ruling means taxpayers must prepare specific balance sheet for tax purposes

The Brazilian Normative Ruling No 1,397/13 means taxpayers must propare a specific balance sheet for tax purposes. Antonio Carlos Marchetti Guzman, of Mattos Filho, explains why the tax authorities are now rowing against the tide with this measure.

November 28 2013

Corporate tax avoidance tops list of ethics issues for business

The British public believes corporate tax avoidance is the number one ethical issue that business needs to address.

Ralph Cunningham, November 28 2013

Nicolas Colin discusses French report on digital economy taxation

Earlier this year Pierre Collin and Nicolas Colin authored a report, commissioned by the French government, focusing on the taxation of the digital economy. The report focuses on how to measure the taxable profits by jurisdiction for this industry, with recommendations for change, including looking at the definitions of permanent establishment.

Sophie Ashley, November 27 2013

A Polish VAT revolution in progress: Part 1

The last year has seen some of the most extensive amendments to the Polish VAT Act in nearly a decade, but the most significant changes are still ahead and will enter into force on January 1 2014. In the first of a two-part series, Radoslaw Szczech and Dorota Pokrop of EY look at the changes that have already come into effect.

November 27 2013

Germany: Entitlement of a US S-Corporation to benefits under the Germany-US tax treaty

Oliver Rosenberg, partner at Linklaters in Dusseldorf, summarises a June decision of the Federal Tax Court (FTC) which clarifies the interpretation of Article 1 paragraph 7 and Article 2 paragraph 10 of the Germany/US Income and Capital Tax Treaty (1989) (amended 2006) (DTT US 2006). Article 1 paragraph 7 of the DTT US 2006 is particularly relevant and important for the treatment of hybrid entities under the treaty.

November 27 2013

Australian House of Representatives votes to repeal carbon tax

The lower house of the Australian Parliament has voted to repeal the carbon tax. But Prime Minister Tony Abbott will have a harder time getting his Bill through the Senate.

Salman Shaheen, November 27 2013

Formal tax risk assessment could work in the US, IRSAC tells commissioner

A much more focused approach to selecting taxpayers for audit would be one of the benefits if the Internal Revenue Service (IRS) adopted a formal tax risk assessment approach, a group of tax executives, practitioners and academics have said.

Ralph Cunningham, November 27 2013

Job creation success raises chance of VAT cut for UK tourism sector

Helen Grant, newly-appointed UK Minister for Sport, Tourism and Equality has heaped praise on the hospitality and tourism sector for its financial contribution to the UK and for its “sharp focus” on, and success in, creating jobs. Those in the sector are hopeful the praise will increase the chances of a VAT cut for the industry in George Osborne’s upcoming Autumn Statement.

Matthew Gilleard, November 27 2013

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