New South Korea transfer pricing and diverted profits tax laws enter into effect
A few information on amended tax laws for South Korea as from 2020. ... - Continue reading
Category: Google Tax (Diverted Profits Tax)
ATO data reveals one third of large companies pay no tax
Of 2,214 entities covered by the Australian Taxation Office (ATO) data for 2017-18, 710 did not pay any tax. ... - Continue reading
Spain planning on going ahead with ‘Google tax’ despite US tariff threats
The aim is to bring the system “into the 21st century” by imposing a 3% levy on tech giants such as Amazon, but first a government must be formed Spain will press ahead with the creation of a tax on certain digital services as soon as a government is formed,… – Continue reading
Creditsafe pays £1m to HMRC under ‘Diverted Profits Tax’
Caerphilly-based credit referencing company Creditsafe has paid Her Majesty’s Revenue and Customs almost £1 million after it was served with a ‘Diverted Profits Tax’ charge. Registered as Creditsafe Business Solutions, the company, based at Caerphilly Business Park, sells business data for credit check purposes and other uses. According to full… – Continue reading
Norway’s Parliament Rejects ‘Google Tax’ Proposal
Norway’s parliament, the Storting, has rejected a legislative proposal for the introduction of a tax on digital business models, labeled the “Google tax,” recommending instead that the Government explore the issue of digital taxation in partnership with the OECD. In rejecting the proposal, introduced by parliamentary commissioner Une Bastholm of… – Continue reading
HMRC To Add To Arsenal Against Diverted Profits
HM Revenue and Customs (HMRC) has launched a consultation inviting input on proposals to tackle arrangements entered into by individuals, partnerships, or companies that aim to move UK profits outside the scope of UK taxation, typically through the use of offshore trusts and companies. The new legislation, to be drafted… – Continue reading
Why U.K. ‘Google Tax’ is Hitting British Plc
The U.K’s diverted profits tax was dubbed the ‘Google Tax’ even before its introduction in April 2015. Yet instead of netting foreign tech companies engaged in complex tax planning such as California-based Google Inc., only U.K. multinational companies outside the technology sector have issued warnings so far over the tax… – Continue reading
Russia Begins Levying Google Tax
Over 100 foreign providers of electronically supplied goods and services to Russian consumers have registered to pay value-added tax on their supplies at 18 percent. The levy – dubbed the “Google tax” – came into force at the beginning of this year and is payable on a quarterly basis. Affected… – Continue reading
