by Ben StupplesThe U.K. may end up on the European Union’s blacklist of tax havens if it slashes its corporation tax by half the current rate to 10 percent, according to senior tax industry figures.
by Teri Sprackland (Tax Notes)Companies with turnover below €50 million would pay 15 percent corporate tax as of 2019, and other companies would see their rate reduced to 28 percent by 2020 under budget proposals passed by the French National Assembly, according to local news sources. The budget also contains a 50 percent increase in the financial transaction tax (FTT) and about €1 billion in tax cuts for middle-income households.
by Ryan Finley and Alexander Lewis (Tax Notes)To prevent its proposals for a "one-stop shop" and formulary apportionment system within the EU from delaying progress on tax base harmonization, the European Commission has issued its proposals for a common consolidated corporate tax base (CCCTB) in the form of two separate directives, according to a commission announcement.
by Huw Jones (Reuters)Multinational companies would have to calculate their tax liabilities according to one set of rules across the European Union under proposals on Tuesday aimed at stopping them shifting profits to avoid taxes.
by European Commission
The European Commission today released Questions and Answers on its new package of corporate tax reforms.
by Lowell D. YoderLowell D. Yoder of McDermott Will & Emery examines an exclusion from Subpart F income that applies to U.S.-source income effectively connected with the conduct of a trade or business in the U.S. The author also describes an exception to the effectively connected income rules for foreign-source Subpart F income.
by Vaishali Mane (Tax Notes)The Chennai Income Tax Appellate Tribunal allowed the admission of additional evidence in the form of an advance pricing agreement because it found that the APA has considerable bearing on the years under appeal and thus must be given due consideration when determining the arm's-length price of the intercompany transactions.
by Slim Gargouri (Tax Notes)The Icelandic Parliament has enacted legislation restricting the interest expense deduction and introducing country-by-country reporting requirements to bring domestic regulations in line with actions 4 and 13 of the OECD's base erosion and profit-shifting project.
by Amanda Athanasiou (Tax Notes)The real non-actor in the European Commission's state aid decisions is Congress, but judging from the Apple decision, none of the players seems to have done its job, according to H. David Rosenbloom of Caplin & Drysdale Chtd.
by Channel NewsAsiaThe European Commission on Tuesday (Oct 25) relaunched an ambitious corporate tax reform package it says will boost the economy and reduce abuses after a series of high-profile tax cheating scandals sparked public uproar.