Archive
France: anti-avoidance measures against tax fraud and major economic and financial crimes adopted by Council of Ministers
May 2, 2013. Tags: anti-avoidance, France, tax fraud
On 24 April 2013, the Council of Ministers adopted a bill that would implement a new set of anti-avoidance measures to fight against tax fraud …
Venezuelan reform of Windfall Oil Price Tax increases threshold contribution [TAX ALERT]
May 2, 2013. Tags: Cleantech, oil and gas, Venezuela
The Law of Special Contribution due to Extraordinary Prices of the Hydrocarbons International Market (the Windfall Oil Price Tax), published in the Official Gazette N° …
Measuring the burden of US business taxes
May 2, 2013. Tags: business tax, income tax, indirect tax, sales tax, United States
In the US, state business tax receipts have increased, while local ones have edged down, according to an Ernst & Young report.
Global executives say M&A’s will rise, yet only a moderate increase in acquisitions planned
April 30, 2013. Tags: Growth, mergers and acquisitions
A major rebound in confidence in the global economy among large corporates is not yet translating into expected capital investment and M&A activity, according to Ernst & Young’s survey
US: IRS LB&I issues Competent Authority Statistics [TAX ALERT]
April 30, 2013. Tags: APA, IRS, tax policy, transfer pricing, United States
On 14 March 2013, the Internal Revenue Service (IRS) released the Large Business & International (LB&I) Division Competent Authority Statistics for the fiscal year ended …
Belgium: abolition of Belgian bank secrecy compatible with Belgian Constitution
April 30, 2013. Tags: Belgium, dividends, Financial Services, income, interest
On 18 April 2013, the Belgian Constitutional Court (Cour Constitutionelle/Grondwettelijk Hof) gave its decision on the petition of the vzw Liga van Belastingplichtigen of 11 …
India: clarification on computation of arm’s length price
April 30, 2013. Tags: income tax, India, transfer pricing
On 15 April 2013, the Government issued clarifications via Notification No. 30/2013 on the computation of the arm’s length price (ALP) for different categories of …
France: anti-avoidance measures against tax fraud adopted by Council of Ministers
April 30, 2013. Tags: anti-avoidance, France, tax fraud
On 24 April 2013, the Council of Ministers adopted a bill which would implement a new set of anti-avoidance measures to fight against tax fraud. The …
Germany: Mediation Committee postpones discussion on bill on implementation of EU Mutual Assistance Directive and amendments to fiscal provisions
April 29, 2013. Tags: European Union, Germany, mutual assistance
In its meeting on 23 April 2013, the Mediation Committee (Vermittlungsausschuss) did not reach a compromise about the content of the bill on the implementation …
European Parliament approves reporting requirements for banks
April 29, 2013. Tags: European Union, Financial Services
On 16 April 2013, the European Parliament approved a 2011 European Commission proposal on the reporting requirements for banks. Details are summarized below. Background In July 2011, …
Common Market for Eastern and Southern Africa (COMESA): Competition Commission becomes operational
April 29, 2013. Tags: Africa
The COMESA Competition Commission has announced that it became operational on 14 January 2013. Established under article 6 of the COMESA Competition Regulations 2004), the Commission …
IRS concludes equity-linked debt creates straddle, requires capitalization [TAX ALERT]
April 29, 2013. Tags: IRS, tax policy, United States of America
In CCA 201310027, the IRS has concluded that contingent debt instruments a corporation issued referencing portfolio shares held by the corporation are part of a …
US: Transfer pricing – safe harbors on the horizon? [TAX ALERT]
April 29, 2013. Tags: transfer pricing, United States
The potential for multinational companies to use transfer pricing to shift income to low-tax jurisdictions has always been a major concern of the United States …
United States: Federal Court of Appeals affirms denial of loss deduction for lack of economic substance
April 26, 2013. Tags: income tax, transaction, United States of America
The US Federal Court of Appeals for the Sixth Circuit has disallowed a deduction for a loss from a transaction that was lacking in economic …
United States: Tax Court reclassifies loan structure as dividend payments
April 26, 2013. Tags: dividends, Singapore, tax law, United States of America
The US Tax Court has held that a complex finance structure was, in substance, dividend payments taxable under the US tax law (Barnes Group, Inc. …
European Commission: creates platform for Tax Good Governance
April 26, 2013. Tags: European Commission, tax avoidance, tax evasion
On 23 April 2013, the European Commission announced the setup of a platform on Tax Good Governance (the platform). This development is part of a much …
Asian giants plot big indirect tax reforms
April 26, 2013. Tags: GST, India, indirect tax, Japan, tax reform, VAT
India plans a new goods and sales tax regime to boost its economy, while Japan is looking to raise more revenue from VAT
Malaysia issues rules on double deduction for freight charges and tax incentives for retail debenture and Islamic bonds [TAX ALERT]
April 26, 2013. Tags: income tax, Malaysia, retail, tax incentives
On 20 February 2013, Malaysia published amendments to its existing income tax rules regarding deductions for freight charges, that grants a double deduction for freight …
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