Poland: President signs GAAR provisions

June 09, 2016

The President of Poland has signed the bill amendments to the Tax Code including the General Anti-Abuse Rule (GAAR) requirements on 7 June 2016 and it is likely that GAAR will be introduced in July 2016. GAAR provisions will provide some tax

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UK: Consultation on secondary adjustments in transfer pricing legislation

May 27, 2016

On 26 May 2016 the UK has published a consultation document on the possible introduction of secondary adjustments into the UK transfer pricing legislation. This would in the opinion of the UK government help to ensure taxpayer compliance with the

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Canada: First reading of federal budget bill 2016 received

April 28, 2016

Federal budget bill 2016, Bill C-15, has received first reading on 20th April 2016 that contains some of the proposals announced by the 2016 federal budget. It also includes several measures, such as changes affecting the inter-corporate dividend

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OECD: JITSIC to discuss tax avoidance risks

April 09, 2016

A meeting of the Joint International Tax Shelter Information and Collaboration (JITSIC) network is to take place on 13 April 2016 to discuss further options for cooperation following the publicity surrounding the documents referred to as the Panama

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OECD: Consultation document on treaty access for non-CIV funds

March 27, 2016

The OECD has issued a consultation document inviting comments on issues arising from the tax treaty entitlement of non-CIV vehicles. This consultation follows on from the final report on action 6 of the project on base erosion and profit shifting

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UK: Responses to call for evidence on cash and noncompliance

March 26, 2016

On 24 March 2016 HMRC published a summary of responses to the call for evidence on cash, tax evasion and the hidden economy. The call for evidence had asked for views on the relative decline in the use of cash and its impact on tax compliance, the

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UK: HMRC Clarifies Approach to Taxing Multinationals

February 10, 2016

The UK Parliament’s Public Accounts Committee is taking evidence on 11 February 2016 in relation to the tax affairs of multinational enterprises. In advance of the parliamentary hearing the UK tax authority HMRC has published a factsheet on its

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European Commission publishes Anti Tax Avoidance Package

February 02, 2016

The European Commission published its Anti Tax Avoidance Package on 28 January 2016. This package consists of the following main elements: Anti Tax Avoidance Directive The provisions of a proposed Anti Tax Avoidance Directive have been published

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OECD: Multilateral Competent Authority Agreement for exchange of CbC reports

January 28, 2016

On 27 January 2016 thirty-one countries signed a Multilateral Competent Authority Agreement for the automatic exchange of Country by Country (CbC) reports. The Agreement will facilitate speedy implementation of the CbC reporting requirement as set

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Australia: Multinational anti tax avoidance bill receives Royal Assent

December 13, 2015

On 11 December 2015, Further to its passing by Parliament on 3 December 2015 the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill 2015 received Royal Assent. The Bill implements a new anti avoidance rule designed to counter the

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Australian Senate passes Government’s multinational anti tax avoidance measures

December 06, 2015

The Turnbull Government has secured the passage of the Tax Laws Amendment (Combating Multinational Tax Avoidance) Bill, a critical piece of legislation, which will ensure major international companies operating in Australia but booking profits

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UK: Autumn Statement Includes Measures Effective from 25 November 2015

November 25, 2015

The Chancellor of the Exchequer delivered his Autumn Statement to Parliament on 25 November 2015. The measures with immediate effect from 25 November 2015 are as follows: Loans to participators, trustees of charitable trusts: This measure affects

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UK: Corporation tax and large companies

November 20, 2015

A report published by a UK accounting firm indicates that 85 of the companies in the FTSE 350 index paid corporation tax at a rate of less than 5% on their accounting profits; a further 8 companies paid less than 10% of their profits in corporation

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European Union: Anti abuse clause added to parent subsidiary directive

February 03, 2015

On 27 January 2015 the Council of the European Union (EU) amended the parent subsidiary directive to add a binding anti-abuse clause. This is designed to prevent tax avoidance and aggressive tax planning, and to ensure more consistency in the

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New Russian CFC and anti-avoidance legislation

June 02, 2014

The amended draft law regarding controlled foreign companies and other anti-offshore measures has done most valuable changes in the field of foreign tax structures and tax avoidance. This law has publicly available on 27 May, 2014. It highlights

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United Kingdom – HMRC report on offshore tax evasion

March 09, 2014

The United Kingdom government is continuing to take action against artificial tax avoidance and tax evasion. In this connection the tax administration (HMRC) has issued a "corporate report," which sets out how HMRC addresses offshore tax evasion and

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Canada – Evaluation of GST/HST information

October 06, 2013

The Canadian Revenue Agency has began to judge the “hefty penalties” regarding the GST/HST annual information return that many large businesses and financial institutions in Canada are needed to report. The penalties (which can be as high as

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New Zealand: Taking Tough Stance on Tax Avoidance

September 10, 2013

A former businessman has been punished recently over a total of 87 tax-related charges, and the Inland Revenue Department of New Zealand has warned that it will continue with its “zero tolerance” approach to tax evasion. This approach to

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