04/22/2021
Exchanges of information good news for tax administrations
GUERNSEY is among 12 jurisdictions to have begun exchanging information relating to businesses’ economic substance.
Tax
04/21/2021
Beware the offshore tax crackdown
The offshore financial interests of millions of Britons have been handed to HMRC since 2018
04/21/2021
Hong Kong proposes new rules enhancing deductibility of foreign tax
Under those circumstances, the taxpayer needed to rely either on the general provision for the deduction of expenditure or outgoings incurred in the production of assessable profits, as construed by decided authority on point.
04/20/2021
JTC Asking the Experts: Buying a Yacht – What About Tax?
There are a number of questions that the well-advised owner of a yacht should be asking themselves when it comes to taxation, the fundamental of which is simply to consider how much they are being told about the taxes relating to what they are doing.
04/19/2021
Google used ‘double-Irish’ to shift $75.4bn in profits out of Ireland
Company moved money in 2019, prior to it overhauling its global tax structure
04/19/2021
Carlos Tevez seeks to avoid paying Argentina's new wealth tax
Boca Juniors striker files court injunction to avoid paying the country's new wealth tax, the latest example of the difficulty in making millionaires comply with the levy.
04/19/2021
Bahamas And Caribbean Ceos Fear Tax Increases
Many observers in The Bahamas believe that the government, facing a projected $900m-plus deficit in the upcoming 2021-2022 budget year following a record $1.327bn of ‘red ink’ in this fiscal period, will be unable to address a national debt fo
04/16/2021
New US proposals for reforming the international tax system
The Organisation for Economic Cooperation and Development has been working on proposals for addressing the tax challenges of the digitalisation of the economy for a number of years.
04/16/2021
Luxembourg: Tax assessments: Pre-litigation and litigation procedures for corporate taxpayers
This article provides a brief overview of the key elements of the procedural framework for contesting decisions issued by the LTA, as applicable to corporate income tax, municipal business tax, and net wealth tax.
04/14/2021
Removal of tax return reminders catches out thousands
More than 5,000 penalties of £200 were sent out to people who had not completed a tax return for 2019, after the States of Guernsey decided not to issue reminders.
04/13/2021
NGO criticises law that allows avoiding criminal penalty for tax evasion
The organization argues that Romania has introduced "one of the mildest sanctioning regimes in the European Union" that encourages tax evasion, G4media.ro reported.
04/12/2021
US tax plan takes aim at offshore centres
Any tax deductions claimed by companies that make payments to related parties in low-tax jurisdictions would be eliminated.
04/07/2021
TMF Group announces 2020 full year results
TMF Group delivered strong performance in 2020
04/06/2021
Buffet of tax-evading secrecy revealed by US settlement with Swiss bank Rahn+Bodmer
This is a global ranking of the countries most complicit in helping wealthy individuals hide their wealth from the rule of law
04/05/2021
CRA has found 35 cases of tax dodging in the Panama Papers leak, 5 years later
Agency said it has unearthed $21M in unpaid taxes filed
04/04/2021
Tax transparency moves forward as no or only nominal tax jurisdictions first exchange information on the substance of entities
These new annual exchanges cover information on the identity, activities and ownership chain of entities established in no or only nominal tax jurisdictions that are either non-compliant with substance requirements or engage in intellectual property or ot
04/04/2021
OECD releases new peer review results on the prevention of tax treaty shopping under the BEPS Action 6 minimum standard
To address this issue, all members of the Inclusive Framework have committed to implementing the Action 6 minimum standard and participate in annual peer reviews to monitor its accurate implementation.
03/31/2021
Overcoming complexity and realising opportunity in luxury French property
Although the crisis itself has not directly boosted international demand, it is clear high-end French properties will rarely lose value and continue to be a safe investment option.
03/31/2021
Tax haven ranking shows countries setting global tax rules do most to help firms bend them
Leading economists and campaigners from around the world are calling for OECD tax rules to be superseded by a more robust and globally inclusive process at the United Nations
03/30/2021
VI again fires back at ‘tax haven’ index
Due to this bias, she claimed, countries whose financial sectors cater primarily for domestic clients — such as Germany, China and the United States, none of which were listed in the top 10 — escape scot-free.