Chris Morgan provides your update on international tax developments, including the recent update on CFC reform, the EC consultation on double non-taxation, and the Green Paper on the German/French co-operation in the area of business taxation.
Robert Langston provides your refresher guide to the UK tax rules for classifying foreign entities.
With public debt across Europe reaching unsustainable levels, governments are under more pressure than ever before to raise revenues without harming prospects for growth. This report examines different approaches to fiscal consolidation, and why better tax compliance has a key role to play; trends in both direct taxes and VAT rates; whether the proposed Financial Transaction Tax helps or hinders; the tax measures being introduced by several Member States (examining countries with record deficit levels as a proportion of GDP and those introducing new tax initiatives); tax policy issues for the UK; and the wider economic outlook for the Eurozone.
MPs on the Treasury Committee have challenged the logic behind the decision to withhold tax from anonymous Swiss bank accounts at a rate lower than the highest rate of UK income tax.
Helen Lethaby provides your monthly update, which includes coverage of the government’s action to close down ‘abusive’ debt buyback planning retrospectively and the appointment of the new Assurance Commissioner to oversee large tax settlements.
Sara-Jane Donovan and Jennifer Pearce examine the latest update from the government on the new controlled foreign companies regime. Is the gate now open for multinationals?
Aggressive tax planning using international ‘tax arbitrage’ is a growing concern and governments should consider introducing or revising tax laws to deny the benefits of ‘hybrid mismatch arrangements’, the OECD has concluded in a new report.
An updated ‘Gateway’ features in HM Treasury’s latest update on CFC reform, published yesterday.
A Tax Information Exchange Agreement between the UK and Grenada, signed in March 2010, entered into force on 10 January 2012.