$65 billion cash mystery puzzles Britain’s audit office
Mystery in the economy of Britain. How come there is an increase in circulation of pound notes when there is a decrease in day-to-day cash transactions? ... - Continue reading
Category: Corporates
Amazon services arm pays £14m in UK taxes despite revenues of nearly £3bn
Amazon’s (AMZN) UK services arm paid just £14.5m ($16.1m) in UK corporate taxes in 2019 despite generating revenues of nearly £3bn in the country, according to the company’s latest accounts. ... - Continue reading
Nigeria: FIRS Launches Reporting Portal for Financial Institutions
New Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system set for Nigeria. ... - Continue reading
France sees EU digital tax solution in 2021
GAFA group -- Google, Apple, Facebook and Amazon, please take note! ... - Continue reading
Netflix investigated over alleged tax evasion in Korea
Netflix's South Korean office under investigation by the National Tax Service (NTS). ... - Continue reading
Facebook to pay $125 million in back taxes to France
Earlier, France had decided to take the bull named digital tax by its horns, and now it is reaping the benefits. ... - Continue reading
HMRC ‘plea bargain’ tax evader deals collect extra £120m
Plea bargain deals give taxpayers immunity from criminal investigations as HMRC steps up investigations to help pay for coronavirus economic assistance ... - Continue reading
Apple Wins €13 Billion Tax Avoidance Case Against EU Antitrust Regulator
A big win for Apple in a tax avoidance court case. ... - Continue reading
Italy: Italian Supreme Court Confirms Foreign Trusts Should Receive Tax Treaty Benefits
Foreign trusts entitled to tax relief, says Supreme Court of Italy. ... - Continue reading
Tech companies rejected by top court on tax breaks
The U.S. Supreme Court refused to question a ruling that technology companies including Facebook Inc. and Google say will cost them billions of dollars in taxes by limiting deductions for stock payments to employees. The justices without comment Monday turned away an appeal by Intel Corp.’s Altera unit, which challenged… – Continue reading
Why ‘Digital Taxes’ Are the New Trade War Flashpoint
A further discussion on the possible treatment of digital taxes in today's world where it has its hugest economic presence. ... - Continue reading
Indonesia defends digital tax policy despite US scrutiny
The USA seems to be relentless at discouraging the trending 'Digital Tax which seems inevitable now. France has also already shown a keenness towards its imposition, and now it's the turn of Indonesia. ... - Continue reading
PwC tax guru informs Croats abroad about Croatian tax system and double taxation
What non-residing Croats need to know on the Croatian tax laws and double taxation. ... - Continue reading
India: Transfer Pricing And COVID-19 — Repercussions, Re-Evaluation And Way Forward
Here is a discussion on multinational enterprises (MNEs) and their possible treatment of the aftermath of the COVID-19 pandemic. ... - Continue reading
Transfer pricing in the times of COVID-19: do’s and don’ts for adjusting comparable company searches
Guidance on transfer pricing transactions during the unprecedented crisis. ... - Continue reading
FBR mulling over options to fetch additional Rs600bn
There's no denying that the whole world is having to prepare for a tough economic situation right now following the wave of the COVID-19. Here are some of Pakistan's forethoughts to remedy its economy. ... - Continue reading
Vietnam faces increasing tax evasion and avoidance
In the recent years, Vietnam has experienced one of the highest loss of revenue due to tax evasion and tax avoidance from multinationals. ... - Continue reading
Malta: Extension Of FATCA & CRS Deadlines
Deadline for CRS and FATCA reporting for the year 2019 extended till 30 June 2020. ... - Continue reading
COVID-19 and the future of Pillar one
2020 started with a focus on reformed tax laws concerning transfer pricing and the implementation of Pillar one from the OECD. This article delves further into the matter to bring more clarifications. ... - Continue reading
United States: Financial Regulators Encourage And Expect Firms To Continue Assisting Businesses During The Coronavirus Pandemic
The USA is doing its part at alleviating the burden upon its businesses in during this pandemic crisis. ... - Continue reading
Australian High Court clarifies definition of “associate” in BHP Billiton tax dispute.
BHP Billiton's case puts Australia’s controlled foreign corporation laws into better perspective. ... - Continue reading
Cayman Islands: Cayman Islands Update: AEOI 2020 Amendments
Here are changes in tax laws concerning the Automatic Exchange of Information. ... - Continue reading
UK seeks to raise £500m from digital services tax
The United Kingdom unwilling to forsake revenue generated from the digital industry. ... - Continue reading
Canadians with US citizenship face account closures under FATCA
With the conclusion of a grace period on Jan. 1, Canadian banking institutions are required to attain US identification numbers for Canadian clients under FATCA or face fines. ... - Continue reading
India wants fair share of $100 billion global taxes from Google, Facebook
The digital world continues to be under the lens of the OECD as India further pushes for better 'tax collection' methodology. ... - Continue reading
The final OECD transfer pricing guidelines for financial transactions: what has changed?
Amendments to transfer pricing laws have been disclosed on 11 February 2020. ... - Continue reading
Malta: Tax Transparency For Tax Advisors: The Mandatory Disclosure Rules – No More Hiding
The main aim remains linked to curbing tax evasion and avoidance through capturing aggressive tax planning schemes.
... - Continue readingCegereal : KPMG Signs Fresh Lease at Europlaza, Confirming the Property’s Continued Appeal
Cegereal (Paris:CGR) today announced the signature of a new lease with KPMG France, bringing the company’s total space in the Europlaza tower to 12,600 sq.m. The lease will run until 2031 with no break option. ... - Continue reading
GTBank Urges FG to Introduce Structural Reforms
The recurring inability of government to achieve its projected non-oil revenues over the years points to the need for urgent structural reforms, a report by Guaranty Trust Bank Plc (GTBank) has stated. The bank stated this in its 2020 macroeconomic and banking sector outlook, obtained yesterday. It stressed the need… – Continue reading
Nigeria: How Nigeria’s Common Reporting Standard Regulations Will Affect Banks, Insurance Companies, Asset Managers, And Other Financial Institutions
Details about the Common Reporting Standard in Nigeria ... - Continue reading
Netflix accused of funnelling £330million profits ‘into tax havens’
According to TaxWatch, Netflix’s corporate structure is an enabler of tax avoidance. ... - Continue reading
Tax amnesty plan faces hurdles – Credit Suisse
MANILA, Philippines – Investment bank Credit Suisse said an effective tax amnesty program would face hurdles in the Philippines due to the country’s strict banking secrecy law. In its Asian daily report titled “Philippines: Credible threat still lacking,” Credit Suisse economist Michael Wan said the planned program announced by Finance… – Continue reading
Google to pay A$481.5m in major win for Australian Tax Office
Search engine giant’s settlement brings to A$1.25bn the amount collected from ecommerce players ... - Continue reading
Shell reveals it paid no UK corporate income tax in 2018
And one more case of tax avoidance by a giant. ... - Continue reading
Singapore, Tunisia tax treaty enters into force
Singapore and Tunisia join forces in favour of tax reform. ... - Continue reading
Transfer Pricing Cell to put 921 foreign companies under scanner
The National Board of Revenue (NBR) to scrutinise some 921 foreign companies operating in Bangladesh. ... - Continue reading
How major tech companies exploit tax laws: A focus on Ghana and Nigeria
When World Trade Organisation (WTO) officials designed the territorial taxing rights back in the 1920s, not many people imagined that a century later; these guidelines would still underpin the international tax system. Today, highly digitalised companies such as Facebook and Google are able to operate internationally from their tax havens,… – Continue reading
The Risks of Golden Visa Schemes
An exploration into the drawbacks to the very glossy 'Golden Visa Schemes' ... - Continue reading
