UK: the European Commission opens an investigation into the tax relief for video games
The UK is introducing tax relief for the animation, high end TV and video games industry from 1 April 2013. The relief would amount to a 25% tax reduction based on 80% of the production budget of a qualifying animation or video game relating to
See MoreEU: Updated study on the consequences of accession of Croatia to the EU for customs legislation
The European Commission on 2 April 2013 published an updated study dealing with the consequences of the accession of Croatia to the European Union (EU) for customs legislation. At the moment of Croatia’s accession to the EU which is expected to
See MoreUK: supplementary report by the Global Forum’s Peer Review Group
A supplementary report has been issued further to the combined Phase 1-2 report issued by the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes in September 2011. Since that date the UK has sent a follow up report to
See MoreOECD: Global Forum moves to Phase 2 peer reviews
The OECD’s “Global Forum on transparency and information exchange for tax purposes” has a three year mandate to ensure the implementation of tax transparency standards by conducting “peer reviews” of its member countries and of other
See MoreAfrican Tax Administration Forum discusses improved revenue administration
Leaders of revenue authorities from twelve African countries held a seminar in South Africa on 10–12 April 2013 to discuss issues surrounding Board governance of revenue authorities. The meeting was organized by the African Tax Administration
See MoreOECD publishes mutual agreement procedure statistics for 2011
The OECD has made available the statistics for 2011 in respect of the mutual agreement procedure (MAP) in its member countries. The statistics were provided to the OECD by member countries and by Argentina and South Africa which are not currently
See MoreOECD: study of taxation of wages
The OECD Centre for Tax Policy and Administration has published as a Taxation Working Paper a study entitled: “The average personal income tax rate and tax wedge progression in OECD countries”. The tax wedge could be defined as the difference
See MoreOECD: Aggressive tax planning schemes based on after-tax hedging
On 13 March 2013 the OECD released a report entitled “Aggressive Tax Planning Based on After-Tax Hedging”. This report uses information on aggressive tax avoidance schemes submitted to the OECD Directory on Aggressive Tax Planning and looks at
See MoreOECD: report on aid modalities for strengthening tax systems
An OECD report entitled “Tax and development: aid modalities for strengthening tax systems” was published on 11 March 2013. This is a result of work by the OECD’s Informal Task Force on Tax and Development, which incorporates the expertise of
See MoreOECD: report on tax evasion through electronic sales suppression
In both electronic and manual accounting systems the arrangements for recording cash received at the point of sale are important for ensuring that all sales made and cash received are correctly recorded. Much attention has been given to manual
See MoreEU: ECJ Rules on German foreign tax credit rules
The European Court of Justice (ECJ) issued a decision on 28 February 2013 in the case of Dr. Manfred Beker and Christa Beker v Finanzamt Heilbronn. A preliminary ruling from the ECJ had been requested by the Federal Finance Court. The case
See MoreOECD: Treaty Relief and Compliance Enhancement (TRACE) system released
In 2006 the OECD’s Committee on Fiscal Affairs and the Business and Industry Advisory Committee (BIAC) set up an informal consultative group of government and business experts to work on improving the process by which portfolio investors may gain
See MoreOECD invites comments on the draft International VAT Guidelines
The OECD has issued a draft consolidated version of the international VAT/GST Guidelines with an invitation for public comment on four new draft elements of the Guidelines. The new elements are a preface to the Guidelines; the core features of VAT
See MoreOECD publishes comments on the revised discussion draft on beneficial ownership
The OECD has published the comments received from interested parties on its revised proposals in respect of the meaning of “beneficial ownership” for the purposes of Articles 10 to 12 of the OECD Model Tax Convention. The comments relate to the
See MoreOECD issues report on base erosion and profit shifting
A report on base erosion and profit shifting (BEPS) commissioned by the G-20 has been published by the Organization for Economic Cooperation and Development (OECD). The report has already been considered by the G-20 at its mid-February meeting. The
See MoreOECD publishes comments received on the revised emissions trading discussion draft
On 19 October 2012 the OECD released a discussion draft on tax treaty issues relating to emissions permits and credits. Comments from interested parties were invited by 15 January 2013 and these comments have now been published on the OECD
See MoreOECD publishes comments on permanent establishment discussion draft
The OECD has published comments received in respect of the revised discussion draft on proposed changes to Article 5 (permanent establishment) of the OECD Model Tax Convention. The revised discussion draft was issued on 19 October 2012 and
See MoreChina considering tax cut for iron ore miners
China is said to be considering a move to cut tax for iron ore mining companies in a bid to reduce input costs for the nation's steel industry. The country's Ministry of Industry and Information Technology is reportedly working with the Finance
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