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  • The Serbian parliament on Tuesday passed amendments to the VAT law which increase the rate by two percentage points, from 18% to 20%.
  • Getting a national US carbon tax off the ground is an uphill struggle given fierce opposition from a Republican-dominated House of Representatives but a new study by the Congressional Research Service (CRS) has offered a compelling economic reason.
  • Four tax authorities spoke of the benefits of country-by-country reporting (CBCR) and greater transparency at International Tax Review’s Global Transfer Pricing Forum in Paris this week, but they said it would not be sufficient to prevent transfer pricing abuse on its own.
  • With the number of jurisdictions offering advance pricing agreements (APAs) increasing, delegates at International Tax Review’s 12th Annual Global Transfer Pricing Forum heard how, and why, this trend is set to continue, and to what extent the regimes already available are favoured by both taxpayers and authorities, including country-specific insights from the head of the French APA team.
  • A global trend being driven by taxpayers, revenue authorities and the courts is seeing increasing numbers of transfer pricing disputes being settled earlier and avoiding court hearings, a panel at International Tax Review’s Global Transfer Pricing Forum identified.
  • Business taxpayers in the US were not always told by the IRS when they were in breach of a new federal regulation enabling them to pay their taxes online or by telephone, a report from the Treasury Inspector General for Tax Administration (TIGTA) has found.
  • India’s Income Tax Appellate Tribunal (ITAT) has delivered a ruling rejecting the tax authority’s attempt to impose a commission-based remuneration model onto GAP International Sourcing, for procurement support services undertaken on behalf of its overseas group companies.
  • The prospect of a reduction in tax litigation and a smaller compliance burden may become more realistic for taxpayers in India if the government goes ahead with the recommendation of a committee of officials and accounting professionals in the setting of its own accounting standards for the filing of tax returns from 2012-2013.
  • Celia Becker has joined ENS – Taxand as a tax executive.
  • With an election looming, Prime Minister Najib Razak is likely to release a taxpayer-friendly budget on Friday, and taxpayers are hopeful that this will include a corporate tax cut.