Search Results for: tax
BLME Holdings report net profit before tax of GBP 5.1 million for H1 2014
August 27th, 2014
BLME Holdings plc today announced its half year financial results to 30th June 2014. BLME reported an operating profit before tax for the group of GBP 5.1 million. The Group increased its operating profit before impairment charges by 177 ...
Video game tax relief comes into force
August 26th, 2014
British companies developing video games will be able to claim tax relief of up to 25% on their production costs from this week. The video game tax relief legislation, which came into force officially on 1 April 2014 can ...
HMRC Consults On Strict Liability Tax Penalties
August 26th, 2014
HM Revenue and Customs (HMRC) is consulting on the design of a proposed new strict liability criminal offence for those who fail to declare taxable offshore income and gains. Under the plans, magistrates could be given the power to ...
Singapore Issues Modified Research E-Tax Guide
August 26th, 2014
Following the changes announced in February’s 2014 Budget, the Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide on Singapore’s research and development (R&D) tax deductions. IRAS’ e-Tax Guide also clarifies the existing definition of R&D ...
Canadian corporate tax attracts U.S. companies
August 26th, 2014
Canada has become the latest frontier for U.S. companies fleeing the high cost of business, spurred by low corporate taxes and a policy that keeps international earnings out of the clutches of the Internal Revenue Service. It’s “not fair” ...
IMF urges St Vincent and Grenadines to Improve Tax Compliance
August 25th, 2014
The International Monetary Fund (IMF) has called on the authorities in St Vincent and the Grenadines to take steps to improve tax compliance. Tax compliance in the Caribbean territory has declined by about 20 percentage points since 2008 to ...
BofA Tax Set-Aside and Wylys Penalty
August 25th, 2014
Bank of America Corp. must set aside $490 million of its Aug. 21 $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt — a step taken by the Justice Department to give homeowners relief that ...
US Study Compares Worldwide Corporate Tax Rates
August 25th, 2014
The Tax Foundation (TF) has issued a paper which shows how the United States corporate income tax rate, now the highest among the 34 industrialized nations of the Organization for Economic Cooperation and Development (OECD), ranks against all of ...
Scotland to impose its own tax authority
August 22nd, 2014
Edinburgh took a step closer to operating its own version of HMRC this week, after the Scottish parliament passed the Revenue Scotland and Tax Powers Bill. The chair of the Chartered Institute of Taxation’s (CIOT) Scottish technical subcommittee, Moira ...
Samsung Told by Tax Man to Use Apple-Topping Cash: Korea Markets
August 21st, 2014
Samsung Electronics Co. is sitting on a cash pile 58% bigger than Apple Inc. (AAPL)’s war chest. The tax man has a message for South Korea’s biggest company: “Use it or lose it.” The government of President Park Geun ...
