International Tax
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Obama's international tax reform proposals provide a balanced approach to the lock-out problem

Obama's international tax reform proposals provide a balanced approach to the lock-out problem | International Tax | Scoop.it
There are currently in excess of $2 trillion of earnings held by U.S. multinationals outside the United States.
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Clear outline of the recent Obama proposal on the taxation of overseas profits of US corporations - but will it be agreed by both parties?

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HSBC Helped Clients Dodge Tax - Report

HSBC Helped Clients Dodge Tax - Report | International Tax | Scoop.it
“The banking giant's Swiss arm gave accounts to international criminals and corrupt businessmen, according to secret files.”
louise li's insight:
Tax dodge, Margaret Hodge, undeclared income, uncollected taxes, fines, AML and compliance - tax risk management has a widening scope
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Obama targets foreign profits with tax proposal, Republicans skeptical

Obama targets foreign profits with tax proposal, Republicans skeptical | International Tax | Scoop.it
Fiscal budfet is seen as much a political document as a fiscal roadmap
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Do Politicians and Tax mix?

It will be interesting to watch this being debated and monitoring its success

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Scottish parliament to get control over income tax and welfare spending

Scottish parliament to get control over income tax and welfare spending | International Tax | Scoop.it
Far-reaching reforms to go ahead after Labour drops opposition but Westminster to have overall control of personal allowance
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The next questions are (i) how do you define Scottish "residents"; and (ii) how will the already stretched Scotland HMRC team cope?

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Newsroom - OECD

Newsroom - OECD | International Tax | Scoop.it
Information for journalists, The new OECD/G20 standard on automatic exchange of information was endorsed today by all OECD and G20 countries as well as major financial centres participating in the annual meeting of the Global Forum on...
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Who said individual countries can't work together on tax matters?

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International Adviser: Chewing the FATCA; ten commonly asked questions about the act

International Adviser: Chewing the FATCA; ten commonly asked questions about the act | International Tax | Scoop.it
“Chewing the FATCA; ten commonly asked questions about the act”
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We all need help navigating our way through FATCA. These 10 FAQ are a good starting point.
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SSE breaks the Fair Tax Mark into the FTSE 100

SSE breaks the Fair Tax Mark into the FTSE 100 | International Tax | Scoop.it
“SSE plc – the Perth based energy company that has almost 9 million UK customers –was announced as the first FTSE 100 company to have been awarded the Fair Tax Mark today. That’s a bit of a landmark for tax justice campaigners.”
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Refreshing accountability and transparency in tax disclosures
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E.U. Inquiry Into Fiat Tax Deal Could Reverberate

E.U. Inquiry Into Fiat Tax Deal Could Reverberate | International Tax | Scoop.it
Rivals say Jean-Claude Juncker, incoming president of the European Commission, helped turn Luxembourg into a tax haven. (RT @nytimesworld: E.U.
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EU Commission attack On Luxembourg

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Britain leads clamp down on international tax avoidance - News stories - GOV.UK

Britain leads clamp down on international tax avoidance - News stories - GOV.UK | International Tax | Scoop.it
The UK is the first of 44 countries to formally commit to implementing the new country-by-country reporting template.
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The UK leads the way on Country -by -Country reporting

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OECD Calls for Coordinated Fight Against Corporate Tax Avoidance - New York Times

OECD Calls for Coordinated Fight Against Corporate Tax Avoidance - New York Times | International Tax | Scoop.it
OECD Calls for Coordinated Fight Against Corporate Tax Avoidance New York Times Dozens of countries with the most advanced economies have agreed on principles for concrete action to prevent corporations from gaming the international tax system, the...

Via Proactive Consult
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Interesting discussion on this important topic

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Will Jack Lew curb tax inversions on his own?

Will Jack Lew curb tax inversions on his own? | International Tax | Scoop.it

The Treasury Department put out the word that Secretary Jack Lew is considering regulatory curbs on corporate tax inversions, a step that may be intended to increase pressure on Congress to act once it returns from its summer recess in September.


Via Chris Bale
louise li's insight:

They should be asking why is this happening and address the cause - being high US corporate tax rates. Lower corporate tax rates assisted the UK.

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Chris Bale's curator insight, August 20, 2014 11:17 AM

Great article by Mr Gleckman...


The Treasury Department put out the word that Secretary Jack Lew is considering regulatory curbs on corporate tax inversions, a step that may be intended to increase pressure on Congress to act once it returns from its summer recess in September.


The matter of how much authority Treasury has to limit inversions has generated its own controversy. My colleague Steve Rosenthal and Harvard Law School professor Steve Shay argue that Treasury has broad authority to curb the practice. Others, including USC law professor Ed Kleinbard, are skeptical.


It appears, however, that the Administration may announce a move to limit inversions sometime next month. That could accelerate the pace of deals, as firms and their lawyers rush to beat any curbs. And it surely will increase pressure on Congress to act. Until now, lawmakers have been stuck in the usual partisan mire, unable to respond despite widespread rhetorical concerns from lawmakers of both parties about the practice.


Just by putting out the word that Lew is mulling administrative curbs, Treasury has sent a powerful signal to corporations. If they fear restrictions will be imposed retroactively, it could slow the deal train. But if lawyers don’t take that threat seriously, or write agreements to reflect that contingency, it is more likely to generate a rush to close deals ASAP.




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Malaysia requires transfer pricing documentation confirmation

Malaysia requires transfer pricing documentation confirmation | International Tax | Scoop.it
To better monitor taxpayers’ compliance with Malaysia’s contemporaneous transfer pricing (TP) documentation (documentation) requirement, a Malaysian taxpayer will be required to affirmatively disclose whether it has prepared TP documentation in its...
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TP international requirements continue to expand

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OECD BEPS & EU Case Law: Uncertainty ahead

OECD BEPS & EU Case Law: Uncertainty ahead | International Tax | Scoop.it
PwC has published a very informative article addressing the impact of EU case law, exemplified by cases from the Court of Justice of the European Union, on the OECD BEPS international tax proposals...
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Taoiseach and Juncker hold tax talks - Irish Examiner

Taoiseach and Juncker hold tax talks - Irish Examiner | International Tax | Scoop.it
The latest insight and opinion on Irish and international business, finance and technology
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It’s time to smell the coffee and start cooperating on international tax

It’s time to smell the coffee and start cooperating on international tax | International Tax | Scoop.it
There is a report in the FT this morning that President Obama is to impose a levy on the estimated $2 trillion offshore cash pile of US corporations. He aims to raise £$200 billion to finance investment in failing US infrastructure.

Via britishroses
louise li's insight:

This article highlights the need for governments to cooperate on tax or they risk creating harm, as well as taxpayers.

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Mazars' Fair Tax Mark debate

Mazars' Fair Tax Mark debate | International Tax | Scoop.it
Transparency was a key issue at a debate on the new tax standard
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Interesting debate on transparency - a few months old but this topic is not going away

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How to answer the interview question? What are your strength

How to answer the interview question? What are your strength | International Tax | Scoop.it
“How to answer the interview question? What are your strength”
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Luxembourg Tax Deals Under Pressure - NASDAQ

Luxembourg Tax Deals Under Pressure - NASDAQ | International Tax | Scoop.it
“By Matthew Karnitschnig and Robin van Daalen LUXEMBOURG--On the first floor of a rust-colored building near the main railway station, Marius Kohl spe”
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Tax policy is the one thing the EU haven't been able to standardise. Interesting background round on Luxembourg's philosophy of its tax regime.
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Publishing banks' taxes and turnover will help the economy, says PwC

Publishing banks' taxes and turnover will help the economy, says PwC | International Tax | Scoop.it
Country-by-country reporting for banks will help the economy, says PwC http://t.co/YdpbqDTlPW @RichardJMurphy @ph_lamberts
louise li's insight:

Whilst attention is focused on OECD CBC reporting to tax authorities, don't forget banks have to publicly disclose similar information publicly under EU's CRD IV.

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The U.S. is Losing on International Tax Competitiveness | U.S. Chamber of Commerce

The U.S. is Losing on International Tax Competitiveness | U.S. Chamber of Commerce | International Tax | Scoop.it
There might be a few instances where it’s a good thing to come in last. But when it comes to having a competitive international tax code, you probably don’t want your country to be stuck somewhere on the bottom of the rankings.
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Includes a link to the `US Chamber of Commerce"s compelling “Fair Reform for Growth” campaign. Lets hope this encourages debate and change.

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Does your Head of Treasury speak to your Head of Transfer Pricing ?

Does your Head of Treasury speak to your Head of Transfer Pricing ? | International Tax | Scoop.it

Interesting article from Deloitte. TP is obviously well integrated into most in-house tax functions but I wonder how often the Head of Treasury and Head of TP sit down and talk ?


Via Chris Bale
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Chris Bale's curator insight, September 15, 2014 6:34 AM

To understand how strategic transfer pricing may relate to cash management, consider a U.S. organization that identifies cash buildup in a subsidiary based in China. While investigating tax-efficient ways to repatriate the cash, executives learn that the subsidiary was regularly using IP that was owned by another subsidiary outside of China.


The organization concludes that part of the reason for the excess cash buildup is the lack of a royalty charge into China. “Once the issue is identified and the transfer pricing problem corrected, it results in a reduction in the rate at which cash builds up going forward,” notes Mr. Yoo. Such an event, he explains, typically leads the organization to reconsider its cash management plans.


Spotting improper allocations is just one reason to consider a strategic approach. “More than a compliance exercise, strategic transfer-pricing also may help identify tax-efficient opportunities,” say Darcy Alamuddin, principal, Deloitte Tax LLP. For example, an organization may have the opportunity to utilize net operating losses in certain countries; deploy excess tax credits; migrate IP to low-tax countries; and clean up so-called de facto cost-sharing.

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Have taxes your way: Why Burger King wants to become a Canadian citizen - Washington Post (blog)

Have taxes your way: Why Burger King wants to become a Canadian citizen - Washington Post (blog) | International Tax | Scoop.it
Financial Post Have taxes your way: Why Burger King wants to become a Canadian citizen Washington Post (blog) While Starbucks's case is different—the international coffee house still operates out of Seattle, WA, and pays domestic corporate tax...
louise li's insight:

How will consumers react? is this who the US Treasury are relying on?

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When companies flee U.S. tax system, investors often don't reap big returns

When companies flee U.S. tax system, investors often don't reap big returns | International Tax | Scoop.it
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Interesting thoughts on the recent hot topic of inversions for tax purposes 

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10 Things You Need To Know Today - Business Insider

10 Things You Need To Know Today - Business Insider | International Tax | Scoop.it
10 Things You Need To Know Today
Business Insider
In Europe, Britain's FTSE is up 0.6%, France's CAC 40 is up 1.1%, and Germany's DAX is up 1.4%. In Asia, Japan's Nikkei ...
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Interesting snapshot of today's financial current affairs

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