James Bullock explains the best course of action for resolving a tax dispute
Opinion among respondents to the recent consultation on a proposed financial transaction tax was ‘strongly polarised’, the European Commission said. Little has changed, judging by initial reaction to the Commission’s detailed proposal for a Council Directive introducing a Europe-wide FTT.
‘A league table of the world's most secretive tax havens lists Switzerland as the worst offender, six weeks after the UK signed a tax transparency deal with the country.
Sarah Halsted provides a handy reference guide
The financial sector is ‘under-taxed’ and an EU-wide financial transaction tax would ensure that it makes a fair contribution at a time of fiscal consolidation in the Member States, according to the European Commission.
Tax experts who have been calling for a statutory definition of ‘residence’ for many years have welcomed proposed reforms but flagged a number of issues to be addressed.
HMRC beat a hasty retreat on treaty anti-avoidance but it remains to be seen whether the OECD will back off from the ‘beneficial ownership’ debate, explains Helen Lethaby in this month's briefing