International Tax News

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  • China cuts corporate taxes for eight industries - China will cut taxes in eight industry sectors immediately, as part of its continuing efforts to standardise the country's corporate tax system
  • Finance ministers sign Canada-US treaty - The highly anticipated fifth protocol to the Canada-US income tax convention was signed on September 21, has confused and pleased tax professionals on both sides of the border
  • Poll favours common European tax base - A majority of pan-European businesses support the common consolidated corporate tax base, says a new survey from KPMG
  • International companies slam India's dual tax rate - International businesses have challenged the Indian government to defend its policy of charging foreign companies higher taxes than domestic firms
  • Taxand calls emergency meeting after Chiltern defection - The Taxand global alliance has called an emergency general meeting for Friday after the defection of its UK member firm Chiltern to BDO Stoy Hayward
  • Chiltern falls to BDO - The UK representation in the Taxand global alliance of independent tax firms has been thrown into confusion after Chiltern plc was bought by BDO, Britain's sixth biggest accountancy firm, on October 12
  • IRS clarifies treatment of cost sharing arrangements - The US tax authorities have issued guidance to its staff on dealing with related-party payments in a cost sharing arrangement
  • Appeal court gives VAT victory to loyalty schemes - The UK Court of Appeal judgement in the Loyalty Management (UK) (LMUK) case is a significant ruling for the business promotions industry, tax professionals believe
  • US stock option tax under fire - US Senator Carl Levin has introduced a bill that would change the tax treatment of corporate stock option deductions
  • Officials get closer to common tax base - A proposal for a single set of rules to calculate company tax bills throughout the EU looks closer and closer after the latest meeting of the common consolidated corporate tax base working group
  • Fund managers favour offshore tax proposals - The group that represents investment managers in the UK has welcomed the publication of a consultation document into the taxation of offshore funds
  • UK government moves towards tax simplification - The UK tax authorities are inviting companies to participate in three reviews aimed at simplifying the business tax system
  • Tax audits turn nasty - Tax audits can be daunting and scary. When a company is facing that process in a new country for the first time, it can also be confusing
  • New insights into transfer pricing - The UK tax authorities are changing the way they deal with transfer pricing
  • Alvarez strengthens transfer pricing group - Alvarez & Marsal Taxand, the US member of the Taxand global alliance of independent tax firms, has added two experienced economists to its transfer pricing team in Washington, DC
  • Market applauds Americas Awards winners - Deloitte and Skadden Arps Slate Meagher & Flom were the big winners at International Tax Review's second annual Americas Tax Awards