Search Results for: Tax
Global tax changes could undermine UK tax competitiveness
March 13th, 2015
Changes to the way international companies pay tax could undermine Britain’s tax competitiveness, EY survey of finance and tax professionals finds Impending changes to the way international companies pay tax could undermine government efforts to improve Britain’s tax competitiveness, research ...
HMRC issues almost £100m in tax return penalties
March 11th, 2015
Tax payers could find themselves with a daily penalty increase if they continue to fail to submit their return HMRC has issued 890,000 people with a £100 penalty fine for failing to complete their tax returns by the 31 ...
HSBC accused of incompetence by MPs in tax scandal
March 10th, 2015
HSBC executives have been accused by MPs of incompetence for saying they were unaware of tax evasion activities in their Swiss private bank. Chris Meares, the ex-head of HSBC’s private banking division: “I absolutely take responsibility for the control failings ...
UK – Offshore Tax Disclosures – Use The LDF while you can
March 9th, 2015
Tax authorities around the globe are increasingly working together to fight tax evasion and aggressive tax avoidance to collect more tax. In the UK, HMRC is geared up to take full ...
Russia Looks to Squeeze More Tax From Google — Report
March 9th, 2015
Russia is considering a move to raise taxes on international Internet company Google, business daily Vedomosti reported Friday citing unnamed government sources. The issue was discussed at a meeting initiated by former Communications Minister and Kremlin aide Igor Shchyogolyev and attended by officials from the Kremlin and the Communications Ministry ...
Robo-Audit: The IRS Finds a New Way to Check Tax Returns
March 6th, 2015
In prepared remarks before the New York State Bar Association Section of Taxation on February 24, 2015, IRS Commissioner John Koskinen noted that with the IRS budget falling by more than $1.2 billion in the last five years, and ...
Varoufakis’ 6 reforms: 3 for humanitarianism + 3 for tax
March 4th, 2015
Greek Finance Minister Yanis Varoufakis is heading to the Eurogroup meeting of the euro area’s finance ministers on Monday with six proposals aimed at appeasing them. In an effort to reach a compromise, he is pulling back the proposal ...
Special Rural Development Tax to be Exempted from Imported Gold Traded in the KRX Gold Market
March 4th, 2015
The Korea Exchange (KRX) announced that the special tax for rural development that had been imposed on the imported gold to be traded in the KRX gold market (a gold spot market operated by the KRX) will be exempted ...
Indirect tax rates continue to soar across the globe as governments devise new levies
March 3rd, 2015
Value-added tax (VAT) rates surge to a high of 21.6% in EU Member States More countries levying VAT, particularly in emerging markets Governments introduce new taxes on health products and e-commerce As VAT rates continue to rise, governments are ...
India To Cut Corporate Tax Rate By Five Percent
March 3rd, 2015
In his 2015 Budget speech, India’s Finance Minister, Arun Jaitley, set out his roadmap for accelerating growth and enhancing prospects for investment, including plans for a five percent cut to the corporate income tax rate. The tax cut, which ...
