HMRC has issued a reminder to financial institutions that the deadline for submitting automatic exchange of information (AEOI) returns for the year ended 31 December 2016 is 31 May 2017.
The European Commission has presented its 2017 country specific recommendations, setting out economic policy guidance for individual member states for the next 12 to 18 months.
Speaking to the press after the meeting of ECOFIN on 23 May, European Commission vice-president Valdis Dombrovskis gave an update on the Council’s debate on a directive for an EU common consolidated corporate tax base (CCCTB).
Tax reform is essential to stimulating growth in the world’s economies, as multinational firms invest less, causing productivity and wages to stall, argues Liam Byrne, former chief secretary to the Treasury, in ‘A new agenda for inclusive growth’, an article for the OECD Yearbook.
A new OECD report finds that transferring a third of the additional revenues from carbon pricing reforms to poor households, by means of an income-tested cash transfer, would reduce energy affordability risks by more than 10% on average across the 20 countries considered in the report.
Lebanon has become the 111th signatory to the multilateral convention on mutual administrative assistance in tax matters.
The International Tax Compliance (Amendment) Regulations, SI 2017/598, amend the 2015 regulations to update the position on the UK’s international exchange arrangements, address gaps in the earlier provisions and clarify the application of penalties. The new regulations:
The full EU Parliament has voted to approve the Commission’s proposal for an anti-tax avoidance directive amendment extending the hybrid mismatch rules to non-EU countries. The report will now go to the Council, where the amendment will require unanimous agreement to be adopted.
On 3 May, the EU Parliament’s economic and monetary affairs committee is to hold a public hearing on proposals for the common consolidated corporate tax base.