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The UK on May 28 released a tax information and impact note on UK regulations issued March 11 that amend the worldwide debt cap. the regulations prevent changes to accounting standards from disallowing certain financing costs for investment entities. See, Corporation tax: changes to the worldwide debt cap (WWDC) provisions.
The Business Roundtable, an association of US company CEOs, on March 11 released a PWC report it commissioned which concludes that the US's high tax rate coupled with its worldwide system of taxation disadvantages US businesses in the global cross-border mergers and acquisitions market, leading to foreign takeover of US businesses . . .
China's State Administration of Taxation (SAT) on July 22 released an English-language translation of a June 3 announcement describing new policies . . .
ndia's Committee on Direct Taxes on May 26 requested that stakeholders submit written comments on the issue of whether the government should impose minimum alternate tax (MAT) on gains of foreign financial institutions (FFIs) that arose prior to April 1. The committee, headed by Justice A.P. Shah, former. . .
Hong Kong's Treasury Branch on April 24 launched a consultation on the legislative regime and operational framework for implementing automatic exchange . . .
Staff of the OECD, UN, IMF, and World Bank on November 6 released a report Options for Low Incomes Countries’ Effective and Efficient Use of Tax Incentives for Investment. The report was prepared at the request of the G20 Development Working Group. See: Report.
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 . . .
China and South Korea have signed a bilateral advance pricing agreement, the Chinese goverment announced in a June 23 English-language release. The signing took place during a Sino-South Korea tax commissioners meeting . . .
Irish Tax and Customs on January 30 released guidance on qualifying avoidance disclosures under Section 811A(2A) Taxes Consolidation Act 1997. Under the . . .
Australia's Inspector General of Taxation, Ali Noroozi, on June 2, released a comprehensive report on the Australian Taxation Office's (ATO) management of transfer pricing matters. The document is dated December 2013. Report (PDF 2.9 MB)
The US IRS today released to the public two more international practice . . .
Russia will not increase tax rates or the fiscal burden on business for four years, said Russian President Vladimir Putin according to a June 19 report in TASS. Putin also said Russia will take steps to increase the transparency . . .
Of the 201 CEOs that make up the membership of the Business Roundtable, 111 lead US companies that use offshore tax havens, and many lead companies that pay little or no corporate tax despite being profitable, according to a report by ranking member of the US Senate Budget Committee, Bernie Sanders (I-Vt.), released . . .
The European Commission, in January 26 announcements, has requested applications from transfer pricing specialists to serve on the EU Joint Transfer Pricing Forum (JTPF). The. . .
The European Commission, on July 18, released "Taxation paper No 43: Financial Activities Taxes, Bank Levies and Systemic Risk," written by Giuseppina Cannas, Jessica Cariboni, Massimo Marchesi, Gaëtan Nicodème, Marco Petracco Giudici, and Stefano Zedda. For the text, see Taxation paper.
The US IRS on August 27 released proposed amendments to regulations that would make more flexible the tests for determining whether an individual is a resident of a US territory . . .
The OECD on July 7 released a model protocol to tax information exchange agreements to be used by governments wishing to extend . . .
A high level committee constituted by India's finance ministry has invited taxpayers, associations, and other stakeholders to set up meetings with the committee to discuss ways to clarify India's tax laws. The . . .
Irish Tax and Customs, on April 16th, released guidance on the tax treatment of investments in exchange traded funds. According to a government . . .