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Chris Bale's insight:Here's what the IMF says - it falls short of an actual recommendation but seems pretty bullish about the upside. "The sharp deterioration of the public finances in many countries has revived interest in a “capital levy”— a one-off tax on private wealth—as an exceptional measure to restore debt sustainability.1 The appeal i […]
The Internal Revenue Service has spent 19 months and more than $8.6 million getting ready to enforce a new law against offshore tax evasion that takes effect next year, but the agency is still not prepared, a watchdog...Chris Bale's insight:More IRS computer and staff improvements are needed to administer the Foreign Account Tax Compliance Act, said the […]
It is not every day that you hear a major Union calling for a cut in the corporate tax rate, but it is a sign of how bad the economy really is in France when Union leaders and Chief Execs are singing from the same hymn sheet.Chris Bale's insight:Given that the rate of compulsory levies in France is currently one of the highest in Europe, just behind Den […]
It’s as traditional as turkey and football on Thanksgiving. The IRS again last week released some important news just before a major holiday. Taxand USA discusses the significant changes to US transfer pricing regulations announced last week.Chris Bale's insight:If you are a US corporate contemplating a Competent Authority claim or an Advance Pricing Ag […]
The government had proposed a non-binding conciliation to the telecom major to sort out the tax dispute.Chris Bale's insight:The British telecom major is facing a tax liability of over Rs. 11,200 crore, along with interest, on its 2007 acquisition of Hong Kong-based Hutchison Whampoa’s stake in India’s telecom major, Hutchison Essar. See it on Scoop.it, […]
German authorities on Tuesday raided some 40 branches of Commerzbank, the country's second biggest bank, over suspected tax fraud by hundreds of clients, the bank and prosecutors said.Chris Bale's insight:Commerzbank is not a suspect in the affair, just a witness. The probe centres on more than 200 wealthy clients suspected of hiding income in life […]
Jailed heroin dealer complains after receiving 80,000 euro tax bill, after deducting "travel expenses" for car used to carry drugsChris Bale's insight:I love the comments from the drug dealer's lawyer - you can just hear the false outrage in his voice:"They're treating my client like he's running a small business," sai […]