International Tax News Blog

Archives: January 2019

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  • Tax heads: A global standard is essential for blockchain adoption

    International Tax ReviewBy Danish Mehboob

    Tax directors examining tax technology opportunities know that regulating internal data and establishing a global reporting standard is a must when it comes to the successful cross-border adoption of any digital platform. Blockchain is no different.

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    By Mehboob, Danish, posted on Thursday January 31, 2019
  • Stronger tax competition predicted among Swiss cantons post-tax reform

    International Tax ReviewBy Danish Mehboob

    Tax competition between Switzerland’s cantons is expected to become even stronger following tax reform, say tax directors at leading companies.

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    By Mehboob, Danish, posted on Thursday January 31, 2019
  • New Facebook VP calls for 'a better way to tax companies like Facebook'

    The HillBy Michael Burke

    Nick Clegg, Facebook's new vice president for global affairs and communication, on Monday called on governments to find "a better way to tax companies like Facebook." Clegg, who made the comment in an interview with the BBC, also said it is "unbalanced" that Facebook pays the majority of its taxes in the U.S. "even though the vast majority of Facebook's users are outside the United States."

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    By Burke, Michael, posted on Thursday January 31, 2019
  • EU Raises Doubts Over Spain Revenues From Tech Tax

    NYT logoBy Reuters

    The European Commission warned that Spain's planned digital tax may not raise as much revenue as Madrid estimates, casting new doubts over the country's ability to meet its deficit targets this year.

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    By Reuters, posted on Thursday January 31, 2019
  • Chile Looks to Blockchain to Support Tax Collection

    Bloomberg By Tom Azzopardi

    Chile is studying how to incorporate blockchain technology to improve its tax-collection powers as part of a broader move toward digital government. The government is preparing a conceptual model that would use blockchain to monitor payments received from banks and other private entities and then automatically inform the corresponding government service said Cristian Cespedes, head of information technology at the General Treasury of the Republic.

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    By Azzopardi, Tom, posted on Thursday January 31, 2019
  • Kering's Swiss Unit Owes Italy 1.4 Billion of Tax, Agency Says

    France’s Kering SA, a luxury goods holding company that owns Gucci and Yves Saint Laurent, said Italian authorities have informed a Swiss subsidiary that it owes approximately €1.4 billion in tax.

    Tax Analysts By William Hoke

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    By Hoke, William, posted on Tuesday January 29, 2019
  • Trade Misinvoicing Aids Illicit Financial Flows, GFI Report Says

    Deliberate misinvoicing on goods traded between developing countries and advanced economies has an “outsized effect on development” by depriving countries of legitimate tax revenues, according to a report by Global Financial Integrity (GFI).

    Tax Analysts By Teri Sprackland

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    By Sprackland, Teri, posted on Tuesday January 29, 2019
  • Siemens profit falls on taxes, lower demand for turbines

    German industrial group Siemens said Wednesday its net profit fell by half in the most recent quarter, to 1.12 billion euros ($1.28 billion), due to higher taxes and falling demand for its big-ticket power turbines as utilities turn to renewable energy.

    Logo: Washington Post By David McHugh

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    By McHugh, David, posted on Wednesday January 30, 2019
  • OECD to Consult on Proposed Global Tax Reforms for Digital Era

    The OECD will hold a March public consultation on proposals that could lead to major international tax rule changes for the digital age, after countries committed to work toward a common solution by 2020.

    Tax Analysts By Stephanie Soong Johnston

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    By Soong Johnston, Stephanie, posted on Wednesday January 30, 2019
  • U.S. Hopeful for Global Digital Tax Deal After OECD Breakthrough

    Now that countries agree to explore several proposals to adapt global tax rules to the digital age, it just might be possible to achieve some kind of consensus, a top U.S Treasury official said.

    Tax Analysts By Stephanie Soong Johnston

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    By Soong Johnston, Stephanie and Athanasiou, Amanda, posted on Wednesday January 30, 2019


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