ITR Search | International Tax Review

Amazon and eBay profiting from VAT evaders

The UK is losing billions of pounds in revenues each year from online VAT fraud committed by foreign traders. But with Amazon and eBay profiting from the fraudsters, and HMRC not doing enough to tackle the problem, Anjana Haines explores whether collaboration or conviction is the better solution

Anjana Haines, October 26 2017

UK and Ireland brace for customs chaos as ‘no-deal’ Brexit looms

Customs is just one of the areas plunged into uncertainty by Brexit The UK has released a white paper examining possibilities for its post-Brexit customs system once it leaves the EU's customs union, and a more revealing report by Ireland's Revenue has added further detail.

Joe Stanley-Smith, October 26 2017

US Inbound: US permanent establishment issue

There has been a lot of discussion in the past few years regarding the BEPS changes and what constitutes a permanent establishment (PE) by a multinational corporation (X) based in one country (A) that has a presence or activity in another country (B).

October 26 2017

South Africa: Constitutional validity of retrospective legislation

The recent High Court decision of Pienaar Brothers (Pty) Ltd v Commissioner for the South African Revenue, a highly important judgment dealing with the constitutionality of retrospective legislation, underscores the importance for taxpayers of participating in or at least being aware of the public consultation process around proposed tax amendments in order to be forewarned of pending changes.

October 26 2017

Poland: Debt push down no longer tax deductible from 2018

Acquisition of Polish companies used to be structured via an acquiring Polish entity (limited liability company or a joint stock company) which was debt financed. Both before and after the merger of the acquisition and the target the interest on debt was tax deductible. It was limited with debt to equity thin capitalisation that applied only to selected related party debt. Interest on non-related party debt (bank loans) was fully tax deductible.

October 26 2017

New Zealand: New Zealand to restate and reform trust law

In August 2017, the Trusts Bill was introduced in New Zealand's Parliament. The bill seeks to restate and reform New Zealand's trust law and is the first significant change in New Zealand's trust law in more than 60 years.

October 26 2017

Montenegro: Montenegro hikes VAT rate and amends excise duties

Montenegro has recently sharpened its focus on fiscal consolidation with a target to achieve budget surplus and to establish a declining trend in the level of public debt from 2019. On the revenue side, additional measures will be aimed at further harmonising the excise policy with the EU's rules. Additionally, the government is set to increase the standard VAT rate by two percentage points as of 2018, an adjustment which will not disturb the Montenegrin tax system.

October 26 2017

China: Modernised industry regulation, greater oversight, and a strengthened DTA network

In September and October 2017 a series of new and proposed rules sought to modernise industry regulation, give the public authorities greater oversight of payments and asset ownership, and strengthen China's network of international tax agreements.

October 26 2017

RIP: Freedom to expose the truth

I present this month's magazine to you with a heavy heart after hearing the sad news of fearless investigative journalist Daphne Caruana Galizia's murder.

October 26 2017

Andersen Global signs collaboration agreement with two firms in Ecuador

Andersen Global has established its presence in Ecuador, as part of its international revival, through a collaboration agreement with two leading firms, FIDESBURó and PROFILE.

Josh White, October 26 2017

Search results for