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  • UK report calls for corporate tax cut
    The Tax Reform Commission – set up by the UK's opposition party the Conservatives, has proposed slashing the corporate tax rate by five percentage points from 30% to 25%. The Commission's report calls for £21 billion worth of tax cuts. But David Cameron, the party leader, is not expected to fully endorse the report.
    October 23 2006
  • Bulgaria slashes business rate to 10%
    Bulgaria will knock one-third off its corporate levy, which is now 15%, in January 2007. Bulgaria will join the EU at the start of next year, and it is hoped that the cut will encourage pan-European investment.
    October 23 2006
  • New transfer pricing head for BDO
    Anton Hume, formerly of Grant Thornton, has rejoined his old firm BDO Stoy Hayward as head of transfer pricing after an 11-year absence.
    October 23 2006
  • Investment funds face offshore challenge from UK authorities
    Her Majesty's Revenue and Customs has published guidelines on new tests that managers of offshore investment funds will have to satisfy to retain their tax-free status. Companies have until January 12 2007 to comment on the guidelines, which are in draft form.
    October 23 2006
  • Plan for closing the US tax gap revealed
    The US Senate Finance Committee has published Additional Options To Improve Tax Compliance, the recommendations of the Joint Committee on Taxation for closing the tax gap - the difference between what the IRS thinks it's owed and what it collects. The tax gap is thought to be $345 billion.
    October 23 2006
  • US and UK sign double tax agreement
    The US and the UK signed a competent authority agreement under the 2001 US-UK double taxation convention to prevent double taxation and evasion of income and capital gains taxes.
    October 16 2006
  • Bill Clinton joins in calls for oil tax
    Bill Clinton, the former US president, made a speech supporting Proposition 87 – a tax aimed at reducing oil use in California. Clinton was speaking to students and staff at the University of California at Los Angeles on October 13. California will vote on the proposition on November 7.
    October 16 2006
  • E-filing becomes mandatory in India
    Palaniappan Chidambaram, India's finance minister, said that businesses working in India must now e-file income tax returns. The deadline for last year's returns is October 31.
    October 16 2006
  • UK institute wants taxpayers' charter
    The Chartered Institute of Directors has called for Gordon Brown, the UK's chancellor of the exchequer, to introduce a taxpayers' charter of rights and duties in next April's budget.
    October 16 2006
  • Ceteris opens Washington DC office
    Grant Clowery, a transfer pricing specialist, has set up consultancy firm Ceteris' Washington DC office.
    October 16 2006
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