Opinion among respondents to the recent consultation on a proposed financial transaction tax was ‘strongly polarised’, the European Commission said. Little has changed, judging by initial reaction to the Commission’s detailed proposal for a Council Directive introducing a Europe-wide FTT.
‘A league table of the world's most secretive tax havens lists Switzerland as the worst offender, six weeks after the UK signed a tax transparency deal with the country.
The financial sector is ‘under-taxed’ and an EU-wide financial transaction tax would ensure that it makes a fair contribution at a time of fiscal consolidation in the Member States, according to the European Commission.
The OECD has published peer reviews on the legal framework for transparency and exchange of tax information in Andorra, Anguilla, Antigua and Barbuda, Austria, Bahrain, the British Virgin Islands, Curaçao, Liechtenstein, Luxembourg, Saint Kitts and Nevis, and the Turks and Caicos Islands.
HMRC are consulting on draft regulations to give effect to the new EU Mutual Assistance in Recovery Directive, Council Directive 2010/24/EU (‘MARD’).
A new comprehensive double taxation convention between the UK and Hungary was signed yesterday and will enter into force when both countries have completed their legislative procedures.
The de minimis mismatch, how to identify the group and relevant companies, clearing intercompany loans ... Robert Langston looks at five key issues that arise in practice concerning the debt cap rules