Corporate Tax

McGuire moves firm

Thu, 23 Feb 2012 00:00:00 GMT

Obama proposes corporate tax cut to 28%

Wed, 22 Feb 2012 00:00:00 GMT

President Barack Obama’s administration has unveiled plans to cut the top corporate tax rate from 35% to 28%, a reduction that would be offset by the closure of certain tax breaks and subsidies.

BUDGET ANALYSIS: South Africa increases capital gains and dividend tax rates

Wed, 22 Feb 2012 00:00:00 GMT

South Africa today released its 2012 budget which included changes to the treatment of capital gains and dividends, as well as the way the tax system is administered.

Tax assistance agreement adds Greece to its ranks

Wed, 22 Feb 2012 00:00:00 GMT

As Greece struggles to fix the problems in its economy, today it signed an international tax agreement that could be a source of much-needed funds.

UK must cut compliance burden and complexity of tax regime, says CBI

Wed, 22 Feb 2012 00:00:00 GMT

The Confederation of British Industry (CBI) signalled a general approval of Chancellor George Osborne’s tax policy yesterday, but warned he must get the details right to make the UK the most competitive regime in the G20.

Weatherford makes progress with fixing its tax accounting

Wed, 22 Feb 2012 00:00:00 GMT

Weatherford, an oilfield services and equipment company, has told investors that because of deficiencies in its income tax reporting, they should not rely on the company’s previous financial statements.

BUDGET ANALYSIS: Singapore enhances incentives, but rate stays the same

Tue, 21 Feb 2012 00:00:00 GMT

Last week’s Singapore budget provided some important changes for capital gains on sale of shares, as well as for the Productivity and Innovation Credit (PIC) scheme.

How the Irish Finance Bill will benefit the financial services industry

Tue, 21 Feb 2012 00:00:00 GMT

The Irish Finance Bill has signalled the introduction of targeted tax provisions aimed at improving the competitiveness of Ireland’s financial services industry, as well as enhancements to the R&D tax credit scheme.

US Treasury Secretary: Tax reform plan coming this month

Tue, 21 Feb 2012 00:00:00 GMT

Treasury Secretary Timothy Geithner has confirmed that the White House’s corporate tax reform framework will be released by the end of the month.

Why Rick Santorum is promoting a manufacturing-friendly tax plan

Tue, 21 Feb 2012 00:00:00 GMT

Calling the health and state of the economy “obviously the number one issue in this campaign”, Republican presidential candidate Rick Santorum has announced his corporate tax plan, standing by his commitment to provide manufacturing businesses with significant incentives.

COMMENT: Why the US budget will leave American businesses playing catch-up

Mon, 20 Feb 2012 00:00:00 GMT

Businesses want certainty, and they want quick, decisive action on tax reform. President Barack Obama’s budget did not provide for any of these, and the continuing delays in action being taken could hurt US companies for some time to come.

Tax transparency in the spotlight like never before

Fri, 17 Feb 2012 00:00:00 GMT

Companies around the world are beginning to understand the importance of transparency about their tax affairs and the reputational benefits of eschewing aggressive tax planning. They will have the opportunity to debate these crucial issues with administrators, activists and practitioners at International Tax Review's first Tax & Transparency Forum on May 2.

Partnerships – Are they the cure for FATCA?

Wed, 15 Feb 2012 00:00:00 GMT

The US announced on February 8, that it is pursuing “FATCA Partnerships” with France, Germany, Italy, Spain and the UK.

Proposed FATCA regs: reaction from around the world

Wed, 15 Feb 2012 00:00:00 GMT

The proposed regulations for the Foreign Account Tax Compliance Act (FATCA) are evidence that the US Treasury has listened to financial institutions about the difficulty of implementing such complex legislation in the time allowed.

Fools rush in where Angela should fear to tread

Tue, 14 Feb 2012 00:00:00 GMT

Credit rating downgrades may be worrying, but German chancellor Angela Merkel and other European leaders must resist hasty tax policy changes.

France-Luxembourg tax treaty renegotiation will cost investors

Tue, 14 Feb 2012 00:00:00 GMT

Foreign investors using Luxembourg holding companies to buy French real estate must restructure their investments or face a significantly increased tax bill, because of imminent amendments to a tax treaty between the two countries.

REACTION: Obama’s inconsistent budget

Tue, 14 Feb 2012 00:00:00 GMT

President Barack Obama delivered his 2013 budget speech yesterday and despite not dealing with comprehensive reform of the tax code – proposals for which will come in the next few weeks – he reiterated the sentiments of his State of the Union address and called for ending tax breaks for companies that ship jobs overseas, replacing them with incentives for those companies that conversely bring jobs and investment to the US.

European Tax Awards 2012: Entries close on February 14

Mon, 13 Feb 2012 00:00:00 GMT

Firms with offices throughout Europe and South Africa have until tomorrow to enter for International Tax Review's European Tax Awards

BUDGET ANALYSIS: Obama promotes repatriation

Mon, 13 Feb 2012 00:00:00 GMT

With Barack Obama’s administration having announced that broad corporate tax reform will be dealt with separately in the coming weeks, and political turmoil stifling progress on US tax issues in general, there were no great expectations for the President’s 2013 budget, delivered today. But amid Obama’s rhetoric of hope and camaraderie, of fairness and responsibility, some meaningful tax changes were proposed.

COMMENT: Why Indian taxpayers need to be patient during a busy 2012

Mon, 13 Feb 2012 00:00:00 GMT

Rumours of delays in the implementation of India's Direct Taxes Code (DTC) and goods and service tax (GST) should be welcomed by taxpayers.

COMMENT: Why the UK’s tax regime means it is open for business

Mon, 13 Feb 2012 00:00:00 GMT

Opinion is divided as to what path UK chancellor George Osborne should take in his 2013 budget next month. The coalition government has consistently delivered the statement that “Britain is open for business”, but how is the UK ensuring it remains an attractive location for business and investment?

Argentina terminates Swiss treaty

Fri, 10 Feb 2012 00:00:00 GMT

Argentina has terminated the provisional application of its double tax treaty with Switzerland.

Congress tackles impact of accounting on US tax reform

Fri, 10 Feb 2012 00:00:00 GMT

In its latest meeting about comprehensive tax reform, the House Ways and Means Committee on Wednesday held its first hearing on the effect of tax and financial accounting on tax reform, and on how businesses evaluate tax policy, concluding that financial accounting factors must be a consideration when designing reform.

Does LDF extension show weakness of HMRC‘s information gathering powers?

Thu, 09 Feb 2012 00:00:00 GMT

HM Revenue & Customs’ (HMRC) decision to extend the Liechtenstein Disclosure Facility (LDF) by a year is a sign that it has been successful. However rumours of a conversation between Dave Hartnett and tax justice campaigner Richard Murphy, denied by HMRC, suggest the UK tax authorities’ other strategies might not working.

US releases further FATCA guidance

Wed, 08 Feb 2012 00:00:00 GMT

The US Treasury has today issued proposed regulations on the implementation of FATCA.

ANALYSIS: Why taxpayers should consider relocating to the UK

Wed, 08 Feb 2012 00:00:00 GMT

Slashing the corporate tax rate, reforming the controlled foreign company rules and blocking plans for a financial transactions tax are just three ways the government hopes to attract multinationals to relocate to the UK. International Tax Review investigates whether these steps will tempt companies to make the move.

Facebook paid more than 35% US tax rate in 2010 and 2011

Tue, 07 Feb 2012 00:00:00 GMT

The flag dropped on the world’s biggest initial public offering of an internet company’s shares last Wednesday when Facebook lodged an S-1 form with the SEC. What did the filing tell us about the social networking company’s tax position?

Belgium finalises corporate tax measures in 2012 budget

Tue, 07 Feb 2012 00:00:00 GMT

After a series of last-minute changes, the Belgian 2012 budget has been approved with changes being made to provisions for short term capital gains, stock options, thin capitalisation restrictions and the introduction of a new general anti-avoidance rule.

How George Osborne can stimulate the UK economy

Tue, 07 Feb 2012 00:00:00 GMT

A UK think-tank has urged the coalition government to halve the corporate tax rate, arguing it is the “only source of a viable economic recovery”, but the report overlooks other vital areas of the tax code such as reform of the controlled foreign company (CFC) regime.

INSIGHT: What to expect in India’s budget next month

Tue, 07 Feb 2012 00:00:00 GMT

India’s finance minister will present his 2012 budget on March 16 and advisers are warning that taxpayers should be prepared for the adoption of controlled foreign company legislation, a general anti-avoidance rule and a place of effective management regime.