The Chartered Institute of Taxation (CIOT) has suggested that certain anti-avoidance provisions may be extended by the UK government to cover companies and trusts set up by non-domiciled individuals.
Multinational companies are continuing to move certain of their operations offshore and to ‘abuse’ transfer pricing and tax treaty rules to reduce their US taxes, according to a new report by the US Treasury, which has alerted Congress to three key international tax issues.
Free trade agreements have featured high on the agenda for the South Korean authorities this week, with announcements that the country plans to push for such deals with China and Russia, and discussion of the sticking points in negotiations with the United States.
With only five weeks to go before the adoption of the euro by Cyprus and Malta, the European Commission has concluded that both Member States are well prepared for the introduction of the currency.
Hong Kong is the premier choice as a pilot point for running renminbi (yuan) business outside of mainland China, the territory’s Chief Executive, Donald Tsang, has suggested.
The Japanese government and ruling coalition are reportedly considering plans to introduce net taxation on financial transactions by 2009.
The Society of Trust and Estate Practitioners (STEP) has called for an impact assessment of proposals by the UK government to extend recent changes in the capital gains tax regime to non-domiciled individuals, and has warned that the new rules may lead to investments leaving the UK.
The Oversight Board of the US Internal Revenue Service has voiced ‘grave concerns’ about the very real possibility of a chaotic 2008 filing season if legislation to reduce the impact of the Alternative Minimum Tax (AMT) is not enacted soon.
It emerged on Friday that India has signed a Double Taxation Avoidance Agreement (DTAA) with the Government of Iceland, for the avoidance of double taxation, and for the prevention of fiscal evasion with respect to taxes on income.
Taking a look at the latest OECD findings on the legislation of offshore tax havens
