OECD should pause digital tax negotiations, US business group says
The United States Council for International Business (USCIB) suggests temporary halt to negotiations around digital tax handling for multinationals. ... - Continue reading
Category: Corporate Tax
Tracking Economic Relief Plans Around the World during the Coronavirus Outbreak
Updates on countries offering tax relief all over the world. ... - Continue reading
UN launches panel to tackle illicit finance
The United Nations has launched the High-Level Panel on Financial Accountability, Transparency and Integrity (FACTI) to address corporate tax abuse and other illicit financial flows. ... - Continue reading
OECD releases 79 public comments responding to review of country-by-country reporting scheme
Is a public country-by-country reporting of multinationals' tax information to be expected soon? ... - Continue reading
UN forms panel to help battle tax evasion, money laundering
Thought leaders from across the globe on Monday joined a UN panel tasked with making recommendations to fix the financial system that lacks effective ways to deal with tax evasion, tax avoidance, money laundering and corruption. The High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030… – Continue reading
OECD tax overhaul to disrupt Bahamas’ economy
More jurisdictions worried about their economy following OECD's new corporate tax laws ... - Continue reading
Ireland faces losing €2bn in corporate tax under OECD reform
New proposals to reform the global tax system could adversely affect the economy of Ireland. Here's more. ... - Continue reading
Turkey on tax evasion grey list
Turkey has been on the grey list of European Union non-cooperative tax jurisdictions since 2017, a situation that undermines its credibility in fiscal transparency. By the end of last year, Turkey should have taken two additional steps to avoid being blacklisted: implementing the Automatic Exchange of Information (AEOI) and becoming… – Continue reading
Tax transparency essential to tackle $600bn avoidance bill
Businesses are being required to be more transparent for the sake of tax efficiency and reform. ... - Continue reading
Councils losing £250m a year through business rates avoidance
According to a new research, there is a substantial loss of revenue that occurs annually due to tax avoidance. Who are the culprits? - Businesses.What are their weapon? - Loopholes in tax laws. ... - Continue reading
$10bn tax bill for resources
The Australian Taxation Office releases data on the top 10 corporate taxpayers in Australia. ... - Continue reading
Cayman remains on Dutch tax blacklist
Netherlands' new blacklist dated 30 December 2019 keeps the Cayman Islands. ... - Continue reading
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
India: Corporate Tax Rates Slashed To 22% For Domestic Companies And 15% For New Domestic Manufacturing Companies And Other Fiscal Reliefs
Changes to tax laws - Here are the key highlights. ... - Continue reading
Shell reveals it paid no UK corporate income tax in 2018
And one more case of tax avoidance by a giant. ... - Continue reading
Bulgaria: Introduction Of Mandatory Transfer Pricing Rules In Bulgaria
New law hits taxpayers. ... - 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
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
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
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
Switzerland: Tax On Inbound Investments 2020
Tax treatment of different acquisitions ... - Continue reading
How tax relief can work for your business
Over the years, the UK has continued to drive towards a more competitive Corporate Tax (CT) regime. ... - 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
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 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
Which Countries Are Considered The Top Corporate Tax Havens?
When multinational companies look to open up a new subsidiary or a regional headquarters, they tend to prefer certain countries due to their favorable tax policies. ... - 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
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
Parliament ratifies double tax agreement with Malaysia
The Verkhovna Rada of Ukraine ratified an agreement with Malaysia on the avoidance of double taxation and the prevention of tax evasion and the protocol thereto, adopting Bill No. 0002. 333 MPs voted in favor of it. It was broadcasted by official Rada Channel. The agreement extends to individual income… – Continue reading
Ireland: Irish Budget 2020 – A Roadmap For Irish And International Business
A guide to the Irish Budget 2020 ... - Continue reading
Singapore: Why setting up in Singapore makes sense for business in ASEAN.
Singapore has long been a preeminent destination for setting up a regional headquarters to pursue business opportunities across ASEAN and Asia. ... - Continue reading
Corporate tax cut to benefit organized retail sector with pricing power most: report
The corporate tax cut would reduce the reach of the unorganized retail sector as they lose their edge of tax evasion, a 2Point2 Capital report says ... - Continue reading
Ireland Budget 2020 released
On 8 October, the Irish government announced its Budget 2020 measures. Brexit and climate change are core themes of new revenue measures and expenditure commitments. Brexit remains the foremost immediate concern for the Irish economy, whereas tackling climate change requires long-term commitments to tax and spending policies. ... - Continue reading
Ireland Transfer Pricing Feedback Statement Explained
The Irish Government recently published a Transfer Pricing Rules Feedback Statement which is explained in this article. ... - Continue reading
Ireland must prepare for international tax turbulence
It looks like the world’s leading economies are determined to claim a bigger slice of the global corporate tax pie which will lead to tricky times ahead for Ireland, according to PwC tax policy leader Peter Reilly ... - Continue reading
Despite big corporate tax cut gains, ITC’s stock has not fired up enough
- News flow on the potential sale of an 8% govt stake in ITC held by SUUTI has weighed on sentiments, say analysts
- Sure, the tax cut gives ITC room to delay price hikes and that may prove helpful
CITIRA set to replace outdated tax scheme
Finally, the outdated and “dysfunctional” tax regime based on gross income earned is now about to end with the expected enactment into law of the new Corporate Income Tax and Incentives Rationalization Act (CITIRA), which the House recently passed with a vote of 170 versus eight against and six abstentions. … – Continue reading
Denmark tax bill clarifies timing rules for transfer pricing documentation
Denmark’s Ministry of Taxation on 12 September published a draft bill proposing a number of changes to Denmark’s international tax provisions including a requirement to submit transfer pricing documentation together with the corporate income tax return. ... - Continue reading
India fires bazooka to lift economy, slashing corporate tax rates and enacting other tax relief
In a development that surprised businesses and the stock market, India’s Finance Minister on Friday announced a significant reduction in the corporate tax rates. ... - Continue reading
Ireland will be the ‘big loser’ if OECD tax reform fails, Saint-Amans warns
OECD tax director also criticises State’s slow move to phase out ‘double Irish’ loophole ... - Continue reading
Tax avoidance drives nearly 40% of global FDI: IMF
Nearly 40% of worldwide foreign direct investment (FDI), amounting to $15trn, “passes through empty corporate shells” with “no real business activities”, a study by the IMF and the University of Copenhagen reveals. According to the report, ten economies including Luxembourg, the Netherlands, Hong Kong, BVI, Switzerland, Singapore, Ireland, the Cayman… – Continue reading
Netherlands destination of choice for tax-dodging multinationals – report
Multinational companies channel more than $3 trillion a year in “phantom” foreign investment through the Netherlands in order to bring down their corporate tax bills, according to research published in the Financial Times. ... - Continue reading
Georgia: a low-tax European country with much to offer investors
Georgia, an Eastern European Country, was ranked 6th in the World Bank Group’s 2019 “Doing Business” survey. ... - Continue reading
Banks dominate list of top corporate taxpayers
Country’s bank sector with eight private commercial banks dominated the list of top-10 highest corporate taxpayers in last fiscal year (2018-2019) despite a cut in the corporate tax rate for the sector. The 10 highest corporate taxpayers paid a total of Tk 5,843.44 crore in corporate income tax in FY19… – Continue reading
German economics minister sees SMEs as “secret weapon”: report
German Minister for Economic Affairs and Energy Peter Altmaier had developed a strategy for the “Mittelstand” or small and medium-sized enterprises (SMEs), the newspaper Handelsblatt reported on Wednesday. “In the eyes of foreigners, SMEs are Germany’s secret weapon and, unlike the Dax 30 companies, SMEs are proving to be extremely… – Continue reading
Lower corporate tax means more jobs – Cayetano
SEN. Pilar Juliana “Pia” Cayetano is batting for lower corporate income tax and rationalized fiscal incentives, saying these would lead to more jobs and sustained economic growth. “I do believe that the time is right to study the rationalization of our corporate holidays and various incentives so that we can… – Continue reading
Minister’s proposal of corporate tax reforms causes strong reaction from Cyprus business community
NICOSIA, Aug. 7 (Xinhua) — Cypriot Finance Minister Harris Georgiades’ proposal of a major reform of corporate taxation has triggered strong objections from entrepreneurs, who fear that it would lead to an increase of their total tax burden. Georgiades said on Wednesday that his proposal, which included taxation on offshore… – Continue reading
Hong Kong: A Guide To Tax Regulations In Hong Kong 2019 – 2020
While considering moving a business into a new market, one of the key consideration is that country's tax regime. What are the incentives that would attract foreign investment? Are there any double tax treaties in place? What is the rate for corporate tax? ... - Continue reading
Mauritius leaks: Big firms leveraging legal loopholes to save taxes can cost developing countries $100 bn every year
Proposals made by Nirmala Sitharaman at G20 Summit could alter the stasis between large corporations and tax havens. ... - Continue reading
How a small tax-paying elite funds the Indian state
The top 1% individual taxpayers contribute nearly one-third of India’s taxes, while the top 5% contribute nearly two-thirds of all the taxes collected ... - Continue reading
