Search Results for: Tax
Tax inversion rules affect stocks
September 24th, 2014
The Obama administration’s tougher rules on offshore corporate inversions had an immediate effect Tuesday, pushing down the stock prices of companies considering such moves. But the highly technical changes to the tax code did not appear to go far ...
French court charges UBS with €1.1 bn over tax fraud
September 23rd, 2014
A 1.1-billion-euro payment was imposed to Swiss Bank UBS by a French court by a French court, for allegedly helping rich French clients to hide money in Switzerland. The bank made an appeal in July after charges of tax ...
Obama announces US crackdown on inversion tax ‘loophole’
September 23rd, 2014
The White House has announced a crackdown on tax avoidance deals known as inversions. The practice involves a US firm merging with a firm in a country with a lower tax rate and has become popular over recent years. But ...
Europe groups fear being caught in US tax crackdown
September 22nd, 2014
European multinationals have launched a rearguard effort in Washington to prevent them becoming unintended victims of a US crackdown on tax-driven international mergers. As the Obama administration finalises plans to curb “tax inversion” deals, big European companies that typically ...
Financial crisis a reason for late tax payment
September 18th, 2014
Sometimes bad economic news can be good news for taxpayers. A judge has ruled that the recession was a reasonable excuse for a family business to not pay a VAT bill on time. Scrimsign Micro Electronics, which makes electronic ...
Russia Rules Out VAT, Personal Income Tax Changes
September 18th, 2014
Russia, which previously was said to be considering a new regional sales tax for introduction in 2015, has ruled out a change to the value-added tax regime, after the nation was reportedly considering a two percent value-added tax hike. ...
CEO of tax specialist cleared of wrongdoing after HMRC climb down
September 15th, 2014
The chief executive and a former director of the tax specialist arm of financial group Montpelier have been cleared of cheating the public revenue of £1m, after HM Revenue and Customs (HMRC) dropped the case against them. Watkin Gittins, ...
Japan’s Prime minister ‘neutral’ on whether to raise sales tax
September 15th, 2014
Japanese Prime Minister Shinzo Abe said on Sunday he remained “neutral” on whether to proceed with a hike in Japan’s sales tax to 10 percent, adding that decision would hinge on the strength of economic indicators for the current ...
Tax breaks for small businesses in Canada
September 15th, 2014
The Canadian Government announced that its new Small Business Job Credit will save firms more than CAD550m (USD500.5m) in payroll taxes over the next two years. The credit is worth the difference between premiums paid at the legislated rate ...
Scottish tax: Can meltdown be avoided?
September 12th, 2014
When Scottish electors cast their votes in the independence referendum on 18 September, a ‘no’ outcome would result in greater devolution of tax powers to Holyrood. By contrast, a ‘yes’ result in support of independence would create the need ...
