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  • Taxpayers seek end to Indian outsourcing confusion
    The Indian finance minister has promised to resolve the controversy over the taxation of business process outsourcing (BPO), such as call centres and back-office services, by foreign multinational companies
    July 31 2004
  • Singapore opens consultation on tax proposals
    Taxpayers in Singapore will have until August 11 2004 to submit comments to the country’s finance ministry on proposed amendments to four major pieces of tax legislation
    July 31 2004
  • UK’s tax disclosure rules take effect
    Promoters of potentially abusive tax reduction schemes will have to declare them to the UK Inland Revenue from August 1 2004. Similar rules for value-added tax (VAT) also came into force. The VAT disclosure rules require businesses using VAT reduction schemes to notify Customs & Excise.
    July 31 2004
  • Greece launches tax amnesty
    The Greek parliament on July 30 2004 passed legislation to introduce a six-month tax amnesty. The tax authorities will impose a 3% tax on repatriated money. The Greek Accounting Office estimates the tax amnesty will generate about €20 billion ($24 billion).
    July 31 2004
  • IMF recommends the US increase taxes
    In a report released last Friday in Washington, DC, the International Monetary Fund (IMF) has recommended broadening the US tax base for businesses including a federal sales or value-added tax and higher taxes on energy use
    July 31 2004
  • Mexican update: Officials reform tax system for real-estate trusts
    As of January 1 2003, the Mexican tax authorities incorporated into the Mexican Income Tax Law tax incentives for Mexican real-estate trusts (MRET) where the primary activity is the construction or acquisition of real estate for sale or lease
    July 31 2004
  • US Inbound update: Congressional differences remain over internet tax freedom
    In October 1998, the federal Internet Tax Freedom Act (ITFA) was enacted calling for a three-year moratorium on state and local taxes on internet access
    July 31 2004
  • Italy introduces advance pricing agreements
    The Italian tax authorities on July 28 2004 released details of the country’s new advance pricing agreement (APA) programme
    July 31 2004
  • Brazilian update: Rulings bid to clarify tax base
    The Brazilian tax authorities have for the past few months issued a number of rulings designed to preserve and/or modify the related tax base
    July 25 2004
  • New OECD guidelines on international exchange of tax information
    The OECD’s fiscal affairs committee finalized new guidelines last Friday for the exchange of information between national tax authorities under international tax treaty provisions
    July 25 2004
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