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The US tax authority, the Internal Revenue Service, issued a package of proposed and temporary regulations designed to reduce the tax benefits and incentives for corporate inversions.
Tax authorities in various countries announced the launch of investigations after 11.5 million documents were leaked from a Panamanian law firm that specialises in setting up offshore entities.
The European Commission unveiled two proposed directives that are designed to coordinate European countries’ efforts to combat corporate tax avoidance.
The US government issued proposed rules governing country-by-country reporting by any US person that is the “ultimate parent entity” of a multinational enterprise (MNE) group.
The IRS announced additional rules designed to curtail the ability of an inverted company to access foreign subsidiaries’ earnings without paying U.S. tax.
The Organisation for Economic Co-operation and Development (OECD) issued proposals to address corporate international tax avoidance and harmonise global tax rules.
The US government announced that it has entered into agreements with Australia and the United Kingdom implementing procedures to automatically exchange financial account information pursuant to the US Foreign Account Tax Compliance Act (FATCA).
The OECD’s discussion draft looks at the issue of arm’s-length pricing of intangible assets when the valuation of those assets is uncertain at the time of the transaction. It also explores special considerations for hard-to-value intangibles.
Reputational risk has become a concern as new corporate tax reporting requirements and the rising exchange of tax information between countries are disclosing more details about a company’s tax affairs.
CFOs and finance directors of multinational companies are facing increased international tax challenges, including heightened scrutiny from authorities focused on preventing tax avoidance. Here’s how to deal with the challenges.
Under a new law approved by the Parliament of India on May 13th, Indian residents with undeclared assets in foreign bank accounts could be hit with penalties, taxes, and even prison time.
Countries should require mandatory disclosure of certain tax planning strategies from both companies and tax advisers, the Organisation for Economic Co-operation and Development (OECD) recommended in a draft proposal.
The Organisation for Economic Co-operation and Development (OECD) and the G20 countries have agreed on three elements that represent the first steps towards implementation of the OECD’s Action Plan on Base Erosion and Profit Shifting.
The IRS announced it has created a secure online site for financial institutions and tax administrators to use to report account information required under the Foreign Account Tax Compliance Act.
The Organisation for Economic Co-operation and Development (OECD) released a strategy for deepening developing-country engagement in its work to stop the erosion of national tax bases and the shifting of profits to jurisdictions solely to avoid paying tax.
The Organisation for Economic Co-operation and Development (OECD) announced that 51 countries have signed its Multilateral Competent Authority Agreement, allowing them to automatically exchange financial information with each other.
Ireland has positioned itself as a low-tax jurisdiction to attract foreign multinationals, and the double-Irish loophole has been criticised as a method that allows multinationals to avoid paying tax.
