Category: Airbnb

Taxmen set their sights on digital economy

KUALA LUMPUR: The taxmen of the Inland Revenue Board (IRB) and Royal Malaysian Customs Department have set their sights on the digital economy. Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah pointed out last week that some foreign-owned digital economy players like Google, Uber and Facebook are currently not… – Continue reading

Corporations paid no tax at Rio Olympics

Coca-Cola, McDonald’s, Visa and the rest of the corporate sponsors of the August 5–21 Olympic Games in Rio de Janeiro won’t be paying any taxes on the money they earn due to a tax exemption law that is set to cost Brazil hundreds of millions of dollars. The exemption, which… – Continue reading

Canada: Voluntary Disclosure CRA Latest Statistics – Toronto Tax Lawyer Commentary

Voluntary Disclosure & CRA Annual Report to Parliament – General Information CRA has provided the latest statistics about the tax amnesty or voluntary disclosure program (VDP) for the previous fiscal year. CRA provides an annual report to parliament that provides a wealth of information about its activities over the past… – Continue reading

Airbnb landlords accused of tax evasion

Professional landlords are using Airbnb and other home-sharing websites to avoid taxes and evade planning laws, according to Ufi Ibrahim, chief executive of the British Hospitality Association (BHA) Ibrahim provided evidence to the Business Innovation and Skills committee this week, where he argued that home-sharing websites like Airbnb are made… – Continue reading

ATO to unveil large business hit list, clamps down on Singapore hubs

Hundreds of millions of dollars of revenue could be up for grabs as the Tax Office announces reviews of multinationals using offshore hubs in Singapore to minimise their tax. The ATO has issued a warning to multinationals to come forward immediately to discuss their overseas hub arrangements, if they have… – Continue reading

Explainer: how Uber and Airbnb are reducing their Australian tax bill

The current international tax regime was developed in the last century when the internet was not yet invented. At that time, a foreign company would typically require a substantial physical presence in Australia before it could be in a position to earn significant amount of income from Australian customers. This… – Continue reading

ATO takes tighter approach to deals with multinationals on future taxes

Tax Commissioner Chris Jordan has become more picky about entering agreements with multinationals aimed at giving companies certainty about their tax payment requirements in Australia in future years. Taxpayers can lock in their tax payment for a period of about three years via an “advanced pricing agreement”, or APA. Technology… – Continue reading

Airbnb argues boost to economy makes up for tax evasion

Online accommodation platform, Airbnb, appeared before the Senate Inqury into the tax avoidance of multinational companies on Wednesday, with the ANZ manager arguing the startup brings a significant amount of money into the economy. Airbnb has found itself in the spotlight on Wednesday, when a Senate inquiry into the tax… – Continue reading

Uber claims it is not avoiding tax as it is not profitable

Uber ANZ director of public policy appeared before the Senate inquiry into the tax avoidance of multinational companies on Wednesday, focusing on tax requirements of an individual driver, rather than the company. A Senate inquiry into the tax avoidance of multinational companies continued in Sydney on Wednesday, when Uber appeared… – Continue reading

Corporates dodge taxing questions

UPDATE 12.45pm: Bermuda has a company tax rate of zero. In Ireland its 12.5 per cent and, with the Netherlands, has given the world the term “Double Irish Dutch Sandwich”. But a trio of prominent Australian business leaders have denied the tax links of their companies to the three offshore… – Continue reading

Tax Commissioner Chris Jordan says tougher laws forcing multinationals to play ball

Tax Commissioner Chris Jordan says multinationals are already approaching the Australian Taxation Office to negotiate before the Turnbull government’s tougher anti-avoidance laws take effect in January, and he expects the office to reap $1.1 billion from them. We at the ATO acknowledge Australia needs investment by foreign companies in infrastructure… – Continue reading

Uber, Airbnb to be hauled before Senate inquiry into corporate tax avoidance

What does Uber mean for Canberra? Journalist Henry Belot explains how Uber will work in the ACT and what it means for passengers and drivers. Uber and Airbnb will be dragged before the Senate inquiry into corporate tax avoidance this week to face questions about tax structures that allow them… – Continue reading

Tax system slow to adapt to digital economy’s rise

LOST REVENUE:A lack of regulations on taxing cross-border Web-based content and services providers puts their local peers at a disadvantage, Ernst & Young said The nation’s tax system is relatively behind developed markets in adapting to the proliferation of the digital economy, which has resulted in lost revenues for the… – Continue reading

Uber and Airbnb confirm they send profit offshore

Uber and Airbnb have revealed in submissions to a federal inquiry that they route profit through companies in the Netherlands and Ireland, where taxes are lower. Uber and Airbnb have told a Senate corporate tax avoidance inquiry that while they comply with Australian tax laws, their Australian operations merely provide… – Continue reading

Cities and regions express their views on the sharing economy, the Trade in Services Agreement and a fair corporate tax system

On 29 September, the Commission for Economic Policy (ECON) of the EU Committee of the Regions (CoR) held an external meeting in Gelsenkirchen, Germany, at the invitation of Markus Töns (DE/PES), member of the North Rhine-Westphalia Regional Parliament. On the agenda was the adoption of the draft opinions on the… – Continue reading

Uber has revolutionised transport in Australia. But will taxpayers get anything in return?

ATO to force Uber drivers to pay GST Uber is to mount a legal challenge against the Australian Tax Office after a decision to force drivers to register and pay GST. Prime Minister Malcolm Turnbull has praised ride-sharing company Uber as part of the “agile” economy he envisages for Australia…. – Continue reading

Airbnb v. Uber: Sharing economy gets a mixed reception in Costa Rica

The night that Uber started offering its ride-hailing service in Costa Rica, vandals – reportedly taxi drivers – smashed the windows of one of the company’s cars in protest. Traffic police impounded two Uber vehicles earlier that same night. Airbnb, however, another staple of the so-called “sharing economy,” has been… – Continue reading

Airbnb, Amazon Land on French Senators’ Tax Radar as Sales Soar

France is trying to squeeze more out of web businesses like EBay Inc., Inc. and Airbnb Inc. Soaring online sales and the use of the Internet giants by smaller businessses as a marketplace for goods and services is prompting the French Senate to look for ways to collect more… – Continue reading

Airbnb pays tax on Australian profit offshore

Airbnb has joined other multinational tech companies by booking its Australian profits offshore through an Irish subsidiary. The move raises questions about how much local tax it pays and whether its rent-sharing model will run into trouble with regulators here. The private company, estimated to be worth $10 billion, has sought immunity from corporate… – Continue reading