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  • Naidoo has won the right to claim back GST from the Australian Taxation Office (ATO) despite the fact that they did not pass on the refund to the recipient of their supply. However taxpayers in similar circumstances may not be entitled to a refund if new legislation is passed.
  • The Australian government has announced plans to scrap the carbon tax a year earlier than expected in favour of a free-floating carbon price if they win the next election.
  • The IMF has raised doubts over the financial transaction tax (FTT) and has recommended looking at alternatives. But the EU 11 is unlikely to alter course now.
  • An important case involving the amortisation of premium for tax purposes in Brazil was recently ruled on by the Superior Chamber of the Federal Administrative Court of Tax Appeals (CARF). Cristiane Magalhães and Erika Tukiama, of Machado Associados, give details of the case and explain how this decision may affect Brazilian taxpayers.
  • Australia’s Assistant Treasurer, David Bradbury, has released a joint statement with Deputy Prime Minister Anthony Albanese regarding a new tax incentive to drive private investment in infrastructure.
  • Germany remains concerned about the competitive disadvantage it feels it is being placed under by the existence of European patent box regimes such as the UK Patent Box and the Dutch Innovation Box.
  • The UK has done much to reform its corporate tax regime over the past 10 years, evidenced most recently by the announcement of a further corporate tax cut – to 20% from April 2015 – and the introduction of a patent box regime. The consensus is that the government’s Open for Business agenda is working.
  • New guidelines for Indonesian officials conducting transfer pricing audits are now in force. The guidance puts pressure on taxpayers to provide more detailed evidence about their related-party transactions when subject to an audit.
  • In a global economic environment in which cash and short term resources are an important objective for most businesses, it is important to be aware of available tax incentives.
  • Jeff Scheine and Gary Gartner, former partners of Kaye Scholer in New York, have left the firm to start Alchemy Capital Planning, a tax planning and business consulting firm aimed at serving international clients looking to invest or expand in the US or globally. Over the last 25 years, they have advised clients on a full-range of tax and business-related issues.