ICAEW’s Tax Faculty has warned that a widespread belief that some businesses can pay less than their fair share of tax can undermine confidence in the tax system.
The CJEU issued its judgment following third preliminary reference in the franked investment income group litigation order (FII GLO) on 12 December 2013.
The Financial Times has reported (15 December) Vodafone as saying that businesses must open up their affairs to more public scrutiny.
The government has published a list of 264 banks which have unconditionally adopted its ‘voluntary’ code of practice on taxation for banks as at 5pm on 4 December.
Jason Collins gives his predictions on what to expect from next week’s Autumn Statement.
Following the OECD meeting in Paris last week, Bill Dodwell and Alison Lobb examine the challenges in implementing country by country reporting and its proposed common template.
Prime minister David Cameron has confirmed that a register of beneficial owners of all UK companies is to be made publicly available as part of the government’s pledge to tackle tax avoidance and evasion, as was first announced at the June 1013 G8 Summit.
‘Justin King, chief executive of J Sainsbury PLC, has challenged business leaders to “stand up” and reveal their tax practices, arguing that “tax is a moral issue” for British companies,’ reported The Daily Telegraph (4 November 2013).
Measures to strengthen the Code of Practice on Taxation for Banks will be included in Finance Bill 2014 and will ‘ensure that on signing up to the code, banks fully commit to the obligations it sets out’, HM Treasury announced.
Roy Millman and Tom Duffy examine the challenges facing the in-house tax function and its relationship with the rest of the company.