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  • De Danske Bilimportører v Skatteministeriet
    Sixth VAT Directive – Article 11(A) – Taxable amount – Motor vehicle registration duty.
    March 16 2006
  • New Zealand taxation bill reported back to Parliament
    The bill, which Parliament received on March 13, covers depreciation, payment dates alignment, fringe benefits tax and miscellaneous provisions. It is thought that Parliament will pass the bill before April 1 as this is the date when many of the bill's provisions become law.
    March 14 2006
  • HM Revenue & Customs reacts to phone card win
    The UK tax authorities have said that phone card distributors must pay VAT on UK sales if there was no VAT charge in the EU country of origin. HMRC were reacting to the Court of Appeal's favourable verdict against IDT card services
    March 14 2006
  • UK big business tax costs are double corporate rate
    A PricewaterhouseCoopers survey of most of the UK's top 100 companies has found that corporate tax payments account for only half of their £18 billion ($31.2 billion) tax bill. The rest is made up of other business tax payments, of which national insurance contributions, local business rates and irrecoverable VAT are the most costly.
    March 14 2006
  • Ireland and Netherlands most competitive
    Ireland and the Netherlands were the runaway winners in a KPMG-conducted survey of tax competitiveness. KPMG polled senior tax executives from 50 large UK companies.
    March 14 2006
  • Deutsche Bank profits cut by tax probe
    Deutsche Bank announced on March 9 that it would lower profits by €250 million ($298 million) because of the US investigation into the bank's part in the KPMG tax shelter scandal. The cut represents 6.6% of the €3.8 billion expected profit.
    March 14 2006
  • Large US corporates complete online filing
    Over 450 companies with assets of $50 million or more have e-filed their tax returns before the initial March 15 deadline, the Internal Revenue Service (IRS) said on March 8.
    March 14 2006
  • UK stops film tax relief exploitation
    HM Revenue & Customs announced on March 10, that an avoidance scheme involving tax relief for film production would now be illegal.
    March 14 2006
  • Simmons & Simmons opens Amsterdam office
    The Dutch financial markets group will move from Rotterdam to Amsterdam. The group comprises 18 lawyers and tax advisers including tax partner Rene van Eldonk.
    March 14 2006
  • Corporate tax cut wouldn't affect revenue
    The UK's Institute of Directors (IoD) has said that a 2% cut in the corporate tax rate could be paid for by ending tax relief and increasing economic activity. Though a reduction from 30% to 28% would cost the UK Treasury £3 billion ($5.2 billion), the IoD predicted cancelling 10 forms of tax relief would raise £2.7 billion and the increase in economic activity because of the cut would raise £300 million.
    March 14 2006
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