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International Tax News Blog

  • Major tax reform in Ukraine includes important changes to corporate tax rules

    By PwC

    The tax laws in Ukraine have been changing rapidly.  Several new laws introduce significant amendments to the Ukrainian Tax Code.  These amendments are designed to (1) simplify Ukrainian tax administration to ease the conditions of doing business in Ukraine and improve the country's investment climate, and (2) raise revenue to finance government expenses.  Thus, these measures could have both positive and negative impacts on Ukrainian taxpayers.
     
    This Tax Insight focuses on the most significant changes to the Ukrainian corporate profits tax rules.


    For the PwC Tax Insight, go here.

    By PwC, posted on Tuesday January 27, 2015
  • BEPS Shifts From Talk to Action in 2015, Dominating Tax Planning and OECD Calendar

    By Kevin A. Bell & Dolores W. Gregory (BNA.com)

    Although the international project to combat base erosion and profit shifting (BEPS) is only half finished, the work done so far by the Organization for Economic Cooperation and Development will trigger radical changes in multinational structures in 2015 and beyond, practitioners said. Among the high-profile casualties anticipated are intellectual property cash boxes in zero-tax jurisdictions; 2015 could be the year they go away. 

    For the story, go here. (subscription required)

    By Bell, Kevin A. & Dolores W. Gregory, posted on Monday January 26, 2015
  • Korean Supreme Court: Use of patent registered outside of Korean is not subject to tax

    By PwC

    The Korean Supreme Court ruled that payments made for the use of patents registered outside Korea for domestic use is not considered Korean-source income. Thus, royalty payments made by Korean-based payers to foreign persons for the use of certain patents registered outside Korea for manufacturing, distribution or other functions within Korea is not subject to tax in Korea. As a result, some US taxpayers should consider seeking refund claims for taxes withheld on payments from Korea.
    For the PwC Insight, go here.

    By PwC, posted on Tuesday January 27, 2015
  • Intangible Property Must be Supported as Part of Tax Reform to Sustain Jobs, New Report Finds

    By Bill McQuillen (Tie Coalition)

    Tax reform proposed by former House Ways and Means Committee Chair Dave Camp would discriminate against the intangible property (IP) of foreign affiliates of U.S.-based multinationals, raise taxes on IP income, and stimulate inversions, Matthew J. Slaughter said in a January report sponsored by the Tax Innovation Equality Coalition.

    For the report, go here.

    By McQuillen, Bill, posted on Tuesday January 27, 2015
  • Turn the United States Into a Tax Haven

    by Diana Furchtgott-Roth (Tax Analysts)

    Diana Furchtgott-Roth suggests that eliminating the corporate income tax would reduce the complexity of the tax code, attract investment to the United States, and increase economic growth.
    For the viewpoint, go here. (subscription required)

    By Furchtgott-Roth, Diana, posted on Tuesday January 27, 2015
  • Brazilian government changes criteria for tax havens

    by ITR Correspondent 

    In late November 2014, the Brazilian government issued Ordinance 488, which reduces the maximum tax rate on income from locations defined as tax favourable jurisdictions and privileged tax regimes – so-called tax havens.
    For the story, go here.

    By ITR Correspondent , posted on Monday January 26, 2015
  • U.S. Business Community Questions OECD's Proposed LOB Approach

    by Kristen A. Parillo (Tax Analysts)

    Representatives of U.S. multinationals urged the OECD to reconsider its plan to include the model text of a limitation on benefits provision when it issues a final report on preventing treaty abuse under action 6 of its base erosion and profit-shifting project.
    For the story, go here. (subscription required)

    By Parillo, Kristen A. , posted on Monday January 26, 2015
  • U.S. Business Community Questions OECD's Proposed LOB Approach

    by Kristen A. Parillo (Tax Analysts)

    Representatives of U.S. multinationals urged the OECD to reconsider its plan to include the model text of a limitation on benefits provision when it issues a final report on preventing treaty abuse under action 6 of its base erosion and profit-shifting project. For the story, go here. (subscription required)

    By Parillo, Kristen A, posted on Monday January 26, 2015
  • Business Groups at OECD Consultation Resist Lower PE Thresholds

    by Ajay Gupta (Tax Analysts)

    During a January 21 public consultation on a discussion draft on action 7 of the OECD's base erosion and profit-shifting project, representatives of various industry groups criticized the draft's more permissive standards for finding a permanent establishment.

    For the story, go here. (subscription required)

    By Gupta, Ajay, posted on Monday January 26, 2015
  • Global Tax Transparency Rising in 2015 As FATCA, OECD Initiatives Gain Momentum

    By: Allison Bennett (BNA.com)

    The growth of global tax transparency is expected to leap ahead in 2015—meaning companies, individual taxpayers and financial institutions must exercise new levels of caution, practitioners told Bloomberg BNA.
    With more than 100 intergovernmental agreements under the Foreign Account Tax Compliance Act and dozens of countries signing on to participate in the Organization for Economic Cooperation and Development's common reporting standard, the groundwork is being laid for a new level of cross-border information sharing, they said.
    For the story, go here. (subscription required)

    By Bennett, Allison , posted on Monday January 26, 2015