« 1 … 41 42 43 44 45 … 47 »
Ireland's Minister of Finance Micheal Noonan on March 11 signed an order to commence legislation that establishes the Irish collective asset-management vehicle ("ICAV"), a new Irish corporate vehicle for investment funds. The ICAV will be a corporate entity with . . .
The Swiss Federal Council on December 17 submitted for consultation a bill proposing to replace its current debtor system of withholding to a system based on a paying agent principle. The consultation will run until March 31, 2015. See, release.
The EU Commission's new president, Jean-Claude Juncker, on November 27, survived a no-confidence vote in European parliament brought on account of the 'Lux leak" revelations that Luxembourg helped scores of multinationals avoid tax while he was prime minister. The censure motion . . .
Agreements between Switzerland and Jersey, Guernsey, and the Isle of Man regarding the exchange of information on tax matters have entered into force. The agreements . . .
The European Commission on Oct. 7 announced that it has opened an in-depth investigation into whether Luxembourg granted private rulings to an Amazon subsidiary with too favorable terms, potentially violating EU rules on state aid. The 2003 tax ruling, which is still in force, sets a methodology for the payment of a tax deductible royalty by Luxembourg-based Amazon EU Sàrl to a related limited liability. . .
The Australian Government, on May 4, released draft legislation that would give the revised Australia-Swiss tax treaty and accompanying protocol, signed . . .
An Australian Taxation Office (ATO) official, on May 22, confirmed that Australia and five other nations are collaborating to investigate the global tax planning of multinationals operating in the e-commerce industry.Mark Konza, ATO Deputy Commissioner, International, said that Australia was "currently involved in a cooperative compliance approach" with five other nations. The collaboration led to the production of an. . .
Responding to calls from the G-20 and civil society groups, the Irish government, on April 29, announced that it will undertake a ‘spillover analysis’ to research what effect Ireland’s tax system has on the economies of developing countries. The Irish government will engage consultants to assist with the evaluation and has launched a public consultation, asking interested parties to make submissions on the topic. See Public Consultation.
An anti-avoidance rule that would limit double tax relief, under consideration in U.K. Finance Bill 2014, sweeps in too many transactions and should be modified to require a tax avoidance purpose, according to KPMG's UK office. The proposal limits double tax relief claimed with respect to loan relationships, derivatives, and intellectual property non-trading credits. KPMG
The European Commission today announced that it has determined that advance pricing agreements granted to a Starbucks subsidiary by The Netherlands and to Fiat subsidiary by Luxembourg were illegal state aid because they sanctioned the allocation of too little profit to activities in those countries and . . .
The European Council on October 6 reached unanimous agreement on a directive that would require EU states to automatically exchange information about private tax rulings with other EU states. The agreement, reached at an ECOFIN meeting in Luxembourg, obliges . . .
Japan and the UK have exchanged notes on a new article on business profits under the Japan-UK tax treaty, the Japanese government announced July 22. New Article 7 introduces provisions concerning . . .
All EU states support the main objectives of the EU Commission proposal for mandatory automatic exchange of information on tax rulings, according to a report of the outcome of a June 19 ECOFIN meeting in Luxembourg. At the meeting, EU finance ministers also . . .
Multinationals asked to testify about their private tax ruling practices before the European Parliament's Special Committee on tax Rulings on June 13 have mostly declined the invitation. According to . . .
A consultation has revealed widespread support for a corporate tax reform plan, proposed last fall, to abolish the cantonal tax statuses for holding, domiciliary, and mixed companies, and to introduce a royalty box, Switzerland's Federal Council said in an April 2 release. Some modifications to the reform proposals will be . . .
Tax officials that attended an OECD Eurasia regional meeting on base erosion and profit shifting (BEPS) welcomed the OECD's effort to involve developing nations in the BEPS project, but said that barriers prevent nations in the region from participating, according to a report released March 10. These barriers were apparent as representatives of only six nations attended the regional meeting, held in Ankara, Turkey, on March 5-6.. . .
The UK and Senegal signed a tax treaty on February 26, the UK’s HM Revenue and Customs has announced. Under the agreement, taxation in the source country on dividends is 5 percent for corporate shareholders that hold at least a 25 percent interest in the company paying the dividends, is 8 percent if the beneficial owner is a pension scheme established in source country, and is 10 percent in other . . .
The UK and Algeria signed a tax treaty on February 18 which provides for maximum rates of withholding tax for interest and royalty payments of 7 percent and 10 percent respectively, UK's HM Revenue and Customs has announced. The treaty also provides for withholding taxes for dividends of 5 percent . . .
The UK's HMRC on January 30 published a consultation paper entitled "Strengthening Sanctions for Tax Avoidance," setting out proposals to address the serial use of tax avoidance schemes and proposing to introduce additional penalties . . .
The UK government on January 8 published a bill that would give Northern Ireland the power to set its own corporation tax rate beginning April 2017. If the bill is passed, it is expected that Northern Ireland will lower its . . .
The Isle of Man on December 15 published revised Guidance Notes relating to intergovernmental agreements to improve international tax compliance signed in 2013 with the UK and US. Release.
Materials that accompany a UK draft law suggest that OECD/G20 base erosion profit shifting (BEPS) guidance will recommend that country-by-country reporting data be disseminated using a tax treaty mechanism, vastly limiting the scope of the reform, tax campaigners say . . .