ECJ: Decision on State Aid and Turnover Tax
On 3 March 2020 the European Court of Justice (ECJ) issued a decision in Vodafone Magyarország Mobil Távközlési Zrt. The company was a subsidiary of Vodafone Europe B.V operating in the telecommunications market and set up under Hungarian law.
See MoreECJ decision on compatibility of progressive turnover tax with EU law
On 3 March 2020 the European Court of Justice (ECJ) issued a decision in the case of Tesco-Global Áruházak Zrt. The company, a part of the Tesco plc group, was a public limited company set up under Hungarian law operating in the wholesale and
See MoreOECD: Comments on CbC Reporting Consultation
On 9 March 2020 the OECD published comments received from interested parties on the consultation on country by country reporting. The consultation was launched in relation to the 2020 review of the CbC reporting rules provided for by the OECD as
See MoreUK: Budget Announcements for 2020
The UK Budget for 2020/21 was announced on 11 March 2020. Coronavirus - Emergency relief measures As a temporary measure to help business during the COVID-19 outbreak the statutory sick pay (SSP) will be extended to those advised to
See MoreWTO: Discussion of Future Objectives
On 3 March 2020 at an event on the future of the World Trade Organisation (WTO) an address was given by the Deputy Director General of the WTO summarising the work required to maintain and increase the benefit from the multilateral trading system.
See MoreIMF Blog Outlines Fiscal Policy Responses to the Health Crisis
An IMF blog published on 5 March 2020 is concerned with fiscal policy responses to the outbreak of coronavirus. The blog emphasises that the priority for governments is health spending for prevention and cure, and to ensure that health services
See MoreUK: Tax Tribunal Rules in Favour of HMRC on IR35 Rules
A tax tribunal ruling issued on 4 March 2020 concerned the IR35 rules as they apply to an individual operating through a service company providing services to a client. Under the IR35 intermediaries legislation the decision as to whether the
See MoreIMF Report Discusses Australia’s Economic Situation
On 4 March 2020 the IMF published a report following the conclusion of discussions with Australia under Article IV of the IMF’s articles of agreement. Economic growth recovered gradually in 2019 with a contribution from net exports. Growth is
See MoreIMF comments on Austria’s tax system
On 3 March 2020 the IMF issued a report following consultations with Austria under Article IV of the IMF’s articles of agreement. The report notes that Austria’s economy has been performing well recently but the growth rate decreased in
See MoreIMF Recommends Further Tax Reform in Tanzania
The IMF issued a report on 5 March 2020 following consultations under Article IV of the IMF’s articles of agreement. The report notes that Tanzania currently has economic growth of around 6%, with adequate reserves and manageable pubic debt
See MoreWTO: Trade Policy Review of European Union
The World Trade Organisation (WTO) issued a report in connection with the trade policy review of the European Union (EU) conducted on 18 and 20 February 2020. The review looked at developments in EU trade policy in the period from March 2017 to
See MoreUK confirms date of Finance Bill 2020
In a written ministerial statement of 25 February 2020 the UK confirmed that the Finance Bill 2020 is to be published on 19 March 2020, in the week following the announcement of the budget proposals on 11 March. The statement confirmed the
See MoreUK: Report on the management of tax expenditures
A report released by the National Audit Office issued on 14 February 2020 looked at the management of tax expenditures. There were 1,190 tax reliefs available in the UK tax system in October 2019, either structural reliefs such as the personal tax
See MoreUK: Changes to IR35 Rules
On 27 February 2020 HM Treasury confirmed that the planned changes to the IR35 rules will be implemented from 6 April 2020. The IR35 off-payroll labour rules were introduced in response to perceived tax avoidance by individuals providing services
See MoreOECD: Guidance and IT Tools released to support the TRACE system
On 25 February 2020 the OECD issued guidance on the the technical implementation of the TRACE initiative (Treaty Relief and Compliance Enhancement), together with the relevant IT formats. The TRACE system permits claims to be made in relation to
See MoreOECD: Stage 1 peer review reports on dispute resolution
On 24 February 2020 the OECD published the eighth round of stage 1 peer review reports. The reports related to for Brunei Darussalam, Curaçao, Guernsey, Isle of Man, Jersey, Monaco, San Marino and Serbia. The reports look at the extent to which
See MoreOECD: Consultation on reporting provisions for platform operators
On 19 February 2020, the OECD released a public consultation document on the draft model rules for reporting by platform operators with respect to sellers in the sharing and gig economy . The OECD notes that the market of online platforms that
See MoreUK: 2020 budget date confirmed
The date of the UK budget has been confirmed as 11 March 2020. As this is the first budget of the new government the announcements could contain a number of important measures. Pension tax deductions The UK government is reported to be
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