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  • Brexit a clear opportunity to attract FDI says Davy

    by Robert McHugh (Business World)

    President Trump and EU corporate tax reform proposals have provided fresh impetus to the debate on Ireland’s attractiveness as a location for foreign direct investment (FDI), according to a report today by Davy Stockbrokers.

    Davy believe that the changes to the US corporate tax regime will have a limited impact. In addition, EU plans for a common consolidated tax base will not be implemented they say.
    To read more go here
    By McHugh, Robert, posted on Thursday February 16, 2017
  • Uncertainty and concern follow voter rejection of Switzerlands company tax reform

    by Le News

    Speaking to Tribune de Genève, Serge Dal Busco, Geneva’s minister of finance, voiced his concerns about last Sunday’s rejection of Switzerland’s planned company tax reform. At the same time he remains optimistic about the chances of a new federal corporate tax reform project.

    His biggest concern is that Bern might backtrack on its promise to help the cantons replace the lost tax revenue created by lowering standard tax rates. Switzerland’s federal government promised around CHF 1.2 billion to the cantons and communes, had the vote been accepted.
    To read more go here
    By Le News, posted on Thursday February 16, 2017
  • Developing Countries Lack Political Will to Adopt AEOI, Says OECD Official

    Tax Analysts

    by Alexander Lewis (Tax Notes)

    As the OECD strives to help developing countries enhance their tax systems through the automatic exchange of information (AEOI), it has run into several problems, including a lack of awareness and political will to make the necessary changes, according to an OECD official.

    Speaking at a February 16 tax fairness conference organized by the Department of Taoiseach in Dublin, Monica Bhatia, head of the Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes, said that while the Global Forum has seen great success in the last five years, it is now facing several challenges in its mission to help get as many countries signed onto AEOI as possible.
    To read more go here Subscription Required
    By Lewis, Alexander, posted on Friday February 17, 2017
  • Proposed Directive Would Expand EU Arbitration Convention to All Business Tax Disputes

    Tax Analysts

    by J.P. Finet (Tax Notes)

    A proposed directive on double taxation dispute resolution mechanisms would simplify the European Union's tax system by expanding the scope of the EU arbitration convention to cover all questions related to business taxes.
    To read more go here Subscription Required
    By Finet, J.P., posted on Wednesday February 15, 2017
  • Swiss Seek New Tax Allure as Vote Hurts Pro-Business Image

    by Dylan Griffiths (Bloomberg)

    Switzerland needs to burnish its appeal to multinationals by presenting a simplified plan to lower corporate tax rates after voters rejected proposals they feared would squeeze public services and shift the fiscal burden onto individuals.

    Voters rejected the reform package by 59 percent to 41 percent on Sunday following more than a decade of pressure on Switzerland from the European Union to scrap tax breaks for multinationals.
    To read more go here
    By Griffiths, Dylan, posted on Monday February 13, 2017
  • Linking repatriation to job creation

    by John Klotsche (The Hill)

    Household words, an expression coined by William Shakespeare, are those familiar to everyone and it seems “tax repatriation” has now joined the club. That is mainly because the president and House GOP members have trumpeted an idea to incentivize multinationals to bring home some $2.5 trillion in cash they have stashed offshore, and their CEOs have enthusiastically joined the chorus.
    To read more go here
    By Klotsche, John, posted on Wednesday February 15, 2017
  • Swiss Reject Tax Reform, Threatening Countrys Competitive Edge

    by Catherine Bosley (Bloomberg)

    Switzerland shot down the government’s plan to reform corporate taxation, a decision that risks hurting its appeal as a place for multinational companies.

    After opponents labeled the reform a series of “complicated tax tricks,” voters opposed it by 59 percent to 41 percent, the federal chancellery said on Sunday. Polls had suggested the electorate was evenly split on the measure, which would have given companies reductions for income from patents and research and development activities.
    To read more go here
    By Bosley, Catherine, posted on Sunday February 12, 2017
  • India Leads Crackdown on Deviant Shell Companies to Curb Tax Evasion

    Tax Analysts

    by Stephanie Soong Johnston (Tax Notes)

    In yet another move to tackle its "black money" economy, India has introduced new measures to discourage shell companies from engaging in money laundering and tax evasion, including the creation of a task force to monitor government action against such companies.

    The Indian Ministry of Finance on February 10 announced that senior officials from several government departments met at Prime Minister Narendra Modi's office to examine how shell companies in India function in order "to prevent their misuse for money laundering and tax evasion," especially as the country continues its efforts to find black money, or undeclared assets.
    To read more go here Subscription Required
    By Johnston, Stephanie Soong, posted on Monday February 13, 2017
  • Border Tax Could Upend Global Markets, but Investors Shy Away From Any Bets

    by Chelsey Dulaney (The Wall Street Journal)

    A Republican tax plan has analysts predicting seismic shifts in global markets, from a double-digit surge in U.S. oil prices to the strongest dollar since the 1980s. But so far, few investors are willing to bet on it.

    Markets are struggling to size up the far-reaching impact of the so-called border adjustment, which would tax imports at a rate of 20% while exempting exports. The aim is to make the U.S. a more attractive place for businesses to invest, while also raising $1 trillion to offset Republicans’ proposed tax-cut plans.
    To read more go here Subscription Required
    By Dulaney, Chelsey, posted on Sunday February 12, 2017
  • Gold Stashed in Bag Shows Hurdles in Italys Tax-Evasion Fight

    by Lorenzo Totaro (Bloomberg)

    On the day Italy claimed an unprecedented victory campaign against tax evasion, 125 gold coins found during a police check on a train from Switzerland come as a reminder of how long the road to compliance still is.

    Italy’s tax agency got about 19 billion euros ($20 billion) from cracking down on tax evasion last year, its head Rossella Orlandi told reporters at a press conference Thursday with Finance Minister Pier Carlo Padoan.
    To read more go here
    By Totaro, Lorenzo, posted on Thursday February 9, 2017