Rebecca Murray analyses what a ‘realistic view of the facts’ means in tax avoidance cases involving expenditure.
Seventy-seven disclosures of tax avoidance schemes were received by HMRC in the six months to 31 March 2012, according to provisional figures released on 1 May. There were 138 disclosures in the financial year to 31 March 2012, showing a slight increase on the previous year.
‘India will delay the introduction of wide-ranging proposed tax avoidance laws by one year, in a move designed to placate international investors worried over increasingly erratic legal changes.
The Parliamentary Assembly of the Council of Europe has warned that ‘massive’ offshore tax evasion and avoidance cause ‘serious harm to the public interest’ in Europe and elsewhere, and particularly in developing countries.
Country by country reporting of profits and taxes paid is ‘essential’ for detecting corporate tax avoidance, according to MEPs who adopted by 538 votes to 73 a resolution on ‘concrete ways to combat tax fraud and tax evasion’. There were 32 abstentions.
A common consolidated corporate tax base should be compulsory for all companies except SMEs after a transitional period, according to a resolution of the European Parliament approved last month by 452 votes to 172, with 36 abstentions.
The divide between tax professionals and tax justice campaigners on the issues of transfer pricing and country by country reporting by multinationals was laid bare at a ground-breaking ‘tax and transparency forum’ attended by more than 200 people in London yesterday.
Barclays has voluntarily disclosed that its UK corporation tax liability for 2011 was approximately £300m.
Tax Justice Network says the current regime for taxing multinationals is ‘not fit for purpose’
The BBC’s Today programme broadcast an apology to Sir Philip Green this morning, following Monday’s interview with David Cameron in whi