Checking Evasion: Taxpayers’ bank accounts to be under GST lens
More measures against tax evasion. ... - Continue reading
Category: Government Bodies
France wants a solution for US dispute on digital tax within 15 days
Can a fortnight provide a solution for the tax dispute between the USA and France? This should be made aware in the days to come, but right now let's find out the details to this situation. ... - Continue reading
Digital services tax and OECD digital taxation pillars
The organisation for economic co-operation and development is keeping its focus on the taxation of digital world. ... - Continue reading
Google to pay A$481.5m in major win for Australian Tax Office
Search engine giant’s settlement brings to A$1.25bn the amount collected from ecommerce players ... - Continue reading
US IRS publishes final tax regulations on dividend equivalents
Final tax laws published. ... - Continue reading
EU to roll out sanctions against blacklisted jurisdictions
The EU has approved a plan to impose financial sanctions on countries or jurisdictions on the bloc's tax haven blacklist by the end of 2020. ... - Continue reading
ATO data reveals one third of large companies pay no tax
Of 2,214 entities covered by the Australian Taxation Office (ATO) data for 2017-18, 710 did not pay any tax. ... - Continue reading
U.S. tax-filing requirements that Americans living in Canada should know
The Canada Revenue Agency (CRA) has sent the financial records of 900,000 dual citizens and Canadian residents to the U.S. Internal Revenue Service (IRS) for the 2018 year, according a recent news story. ... - Continue reading
How major tech companies exploit tax laws: A focus on Ghana and Nigeria
When World Trade Organisation (WTO) officials designed the territorial taxing rights back in the 1920s, not many people imagined that a century later; these guidelines would still underpin the international tax system. Today, highly digitalised companies such as Facebook and Google are able to operate internationally from their tax havens,… – Continue reading
The Risks of Golden Visa Schemes
An exploration into the drawbacks to the very glossy 'Golden Visa Schemes' ... - Continue reading
FBR Warns UAE To Share Details Of Iqama Holders Or Avoidance Of Double-taxation Treaty Be Terminated
Pakistan gives warning over transparency to UAE ... - Continue reading
EU divided over definition of “tax paradise”
A policy proposal presented by the Danish government last week calls for a wider scope in the operative definition of tax avoidance and tax evasion. ... - Continue reading
GRI issues international corporate tax reporting standard
The Global Reporting Initiative has issued a new international tax reporting standard that aims to ensure multinational companies are much clearer about how much they pay in taxes, and where. While the standard has no legal force, it could influence the ongoing debate in the U.S. and abroad on how… – Continue reading
A Run Through On Tax Evasion By Bitcoin Criminals
A report released by the Internal Revenue Service (IRS) has put quite some focus on Bitcoin’s scope for committing tax evasion ... - Continue reading
EU to Consider Tougher Tax Haven Listing
Instant additions to EU's blacklist? ... - Continue reading
Spain planning on going ahead with ‘Google tax’ despite US tariff threats
The aim is to bring the system “into the 21st century” by imposing a 3% levy on tech giants such as Amazon, but first a government must be formed Spain will press ahead with the creation of a tax on certain digital services as soon as a government is formed,… – Continue reading
IRS touts 91% conviction rate for its 2019 tax crime cases
The Internal Revenue Service has a message for tax criminals: "We will not stop in our pursuit." ... - Continue reading
44% Rise in Requests from Foreign Prosecutors to UK for Help Investigating Tax Crimes
OECD has recently announced new proposals to help countries tax corporate incomes more effectively. ... - Continue reading
HMRC lacks staff to investigate over 5.7 million offshore tip-offs
HMRC under an overload of information. ... - Continue reading
Taxing the world of cryptocurrencies is complicated
An insight into the world of "cryptocurrencies" ... - Continue reading
Global Forum marks success fighting tax evasion
OECD announces "unprecedented success" in the fight against tax evasion. ... - Continue reading
12 EU states reject move to expose companies’ tax avoidance
Proposal would have forced firms to reveal profits made and taxes paid in each EU country ... - Continue reading
India: Role Of Permanent Establishment Vis-A-Vis Indian Laws
India's position with respect to Permanent Establishment ... - Continue reading
Spanish Multinationals Pay Global Corporate Income Tax Of 12.6% On Their Profits
12.6% of the global profit of 134 Spanish multinationals fetches 91.85 billion euros. ... - Continue reading
EU prepares to reveal firms’ tax avoidance
EU governments will vote on Thursday on a new rule that would require multinational companies to reveal how much profit they make and how little tax they pay in the bloc’s countries, the Guardian reported. The aim is to expose how large companies, with an annual turnover of more than… – Continue reading
Kenya signs landmark agreement to strengthen its tax treaties
The ongoing national efforts to strengthen the country’s bilateral tax treaties have received a boost with the signing of a multilateral convention to end tax avoidance in France. ... - Continue reading
EU removes UAE, Switzerland from tax haven lists
EU removes UAE, Switzerland from tax haven lists Share this storyEU removes UAE, Switzerland from tax haven lists LUXEMBOURG — European Union finance ministers agreed to remove the United Arab Emirates (UAE) and Switzerland from the bloc’s lists of countries deemed to be acting as tax havens, according to a… – Continue reading
Cabinet approves pact on avoidance of double taxation with Chile
The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. ... - Continue reading
Cayman’s tax regime is ‘under attack’ by OECD proposal
A proposal by the Organisation for Economic Cooperation and Development that effectively seeks to establish a global minimum rate of corporate taxation ignores that Cayman’s tax neutral status is not harmful and is a viable alternative for eliminating double taxation and tax conflicts, says Jude Scott, the chief executive of… – Continue reading
OECD Announces a Public Consultation for Global Minimum Tax Rules
OECD announces a request for comments on its Global Anti-Base Erosion (GloBE) proposal. ... - Continue reading
India launches Income Tax information portal
The portal is a repository of policy and technical circulars and guidance issued by the Central Board of Direct Taxes. In an attempt to reach out to financial institutions and account holders, the Central Board of Direct Taxes has created an exchange of information portal on the income tax department… – Continue reading
Indirect linkages to Tax Havens
According to the most current Federal Tax Compliance Research Report, there is an estimated US Net Tax Gap (Tax Not Collected) of $406 Billion. ... - Continue reading
Impact of Canada’s ratification of the MLI
The MLI enters into force for Canada from December 1, 2019. ... - Continue reading
OECD seeks feedback on the effectiveness of 13 countries’ cross-border tax dispute resolution processes
Taxpayers are invited to submit comments on their experiences by December 16 through filling out a taxpayer input questionnaire. ... - Continue reading
OECD releases 2500+ pages of public comments to its pillar one “unified approach” for taxing multinationals
The OECD on November 15 published more than 300 comment letters that respond to its request for feedback on the Secretariat’s proposal for a “unified approach” to pillar one. ... - Continue reading
Brexit: Claims about EU tax rules fact-checked
Should Brexiteers rejoice for tax-wise benefits following the disinvolvement of the EU? Let's see here. ... - Continue reading
RenTech’s Billion-Dollar Tax Cloud Darkens After IRS Ruling
A little-noticed decision by the Internal Revenue Service’s appeals unit may spell trouble for legendary investor Jim Simons, who’s embroiled in a multibillion-dollar tax dispute with the agency. ... - Continue reading
Canada: Treaties Impacting On Taxation: A Canadian Tax Lawyer’s Perspective
Taxation has become an increasingly global issue as people, money and property move freely across borders. ... - Continue reading
Nearly a million Canadian bank records sent to IRS
Number of government transfers of records of bank accounts held by Canadian residents to U.S. has been rising ... - Continue reading
OECD invites public inputs on Global Anti-Base Erosion proposal
Bad news for multinational corporations and international businesses : OECD could implement a new law which would require them to pay at least a minimum corporate tax in countries concerned. ... - Continue reading
Will Samsung, Hyundai have to pay digital tax overseas?
Big changes ahead : Samsung Electronics, LG Electronics and other top-tier South Korean companies might have to pay corporate taxes even in countries where they have no physical presence. Here's how. ... - Continue reading
EU to remove Belize from tax haven blacklist this week
European Union finance ministers are set to remove the Central American country of Belize from the bloc's blacklist of tax havens in a meeting this week, an EU document said. ... - Continue reading
Cyprus: Substance – From Corporate Tax Perspective And Other Factors
Substance is vital when it comes to the tax residency of companies and their management and control aspect. ... - Continue reading
Ukraine, U.S. ratify agreement on FATCA de-offshorization
The bill foresees that the Ukrainian banks will open information about the accounts of U.S. citizens in this country; Ukraine, on the other hand, will not be able to get the respective information about Ukrainian accounts in the States The Verkhovna Rada of Ukraine has passed the document about ratification… – Continue reading
Canada: OECD Releases Proposal For “Unified Approach” Under Pillar One For Addressing Taxation Of The Digital Economy
On October 9, 2019, the Organisation for Economic Co-operation and Development (OECD) issued its proposal for addressing the tax challenges of the digital economy. ... - Continue reading
Australia: Simplified Transfer Pricing Record Keeping Options In Australia
Australian entities that meet certain requirements can shortcut the usual lengthy and expensive transfer pricing record keeping process. ... - Continue reading
FBR asks UAE to share details of Pakistanis hiding behind Iqama status
Chairman Federal Board of Revenue (FBR) Shabbar Zaidi on Monday wrote letter to UAE authorities and asked for devising mechanism to share details of Pakistanis who are hiding behind Iqama based residential status to evade taxes. In a letter written to Ministry of Finance UAE by the Chairman FBR Shabbar… – Continue reading
OECD is not the right place to reform international tax rules
On October 9, the Organisation for Economic Co-operation and Development secretariat published its proposed ‘unified approach’ to reform international tax rules, seeking to address the tax challenges of digitalisation. ... - Continue reading
EU Advocate General considers Bulgaria’s refusal to exempt dividends paid to a Gibraltar companies from withholding tax
The Advocate General (AG) in an opinion issued 24 October (Case C-458/18) stated that a company incorporated in Gibraltar and subject to Gibraltar corporation tax cannot be considered to be a “company of a Member State” within the meaning of the parent-subsidiary directive (Directive 2011/96). ... - Continue reading
