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Hong Kong to encourage MNE innovation with tax plan

Hong Kong wants to incentivise innovation among SMEs, but the new system could add complexity Hong Kong's Chief Executive Carrie Lam has revealed the details of the two-tier profits tax system, as well as research and development (R&D) incentives, but big companies will gain little benefit.

Anjana Haines, October 26 2017

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

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

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

Harmful tax incentives critically curtailed: BEPS Action 5 in action

BEPS Action 5 – Countering harmful tax practices more effectively by taking into account transparency and substance is one of the four BEPS minimum standards. To date, 102 jurisdictions have committed to its implementation, and 2017 is a decisive year in translating that commitment into action. Achim Pross, Kevin Shoom and Melissa Dejong of the OECD, discuss the first results of the work under BEPS Action 5, and its significance in achieving the goals of the BEPS project.

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

Draft notification on CbC reporting guidance released

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