UK: Consultation on extension of HMRC data gathering powers
On 22 July 2015 the UK tax authority HMRC issued a consultation document entitled “Tackling the Hidden Economy: Extension of Data Gathering Powers”. HMRC estimated that in 2012/13 the element of the tax gap caused by the hidden economy amounted
See MoreUK: Consultation on strengthening sanctions for tax avoidance
On 22 July 2015 the UK government issued a consultation document containing detailed proposals for strengthening the penalties for tax avoidance. The closing date for comments on this consultation document is 14 October 2015. Serial avoiders’
See MoreUK: Consultation on improving large business tax compliance
On 22 July 2015 the UK tax authority HMRC launched a consultation on improving large business tax compliance. In the 2015 budget the UK government stated its intention to open a consultation on the measures that could be taken to improve tax
See MoreUK: HMRC issues consultation document on intermediaries legislation
On 17 July 2015 HMRC issued a consultation document on the intermediaries legislation (IR35). The intermediaries legislation was first introduced in 2000 to combat tax avoidance through intermediaries such as personal service companies. The
See MoreUK: HMRC launches consultations on penalties for offshore non-compliance
On 16 July 2015 the UK tax authority HMRC launched consultations on penalties for non-compliance in relation to offshore income and assets. The consultation papers consider options for strengthening civil penalties for tax evasion involving hiding
See MoreUK: HMRC publishes research report on use of offshore disclosure facilities
On 15 July 2015 HMRC published a research report on behavioral factors influencing the use of offshore disclosure facilities. The research was conducted by interviews with agents handling offshore disclosure cases; in this case those involved with
See MoreMauritius signs Multilateral Convention on Mutual Administrative Assistance in Tax Matters
On 24 June 2015 the OECD announced that Mauritius has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. The Convention provides a framework for cooperation between tax authorities to exchange tax information,
See MoreUK: HMRC issues PAYE penalty notices
The UK tax authority HMRC announced on 17 June 2015 that it has issued the first in-year PAYE penalty notices to employers of fewer than fifty employees who did not send PAYE details to HMRC on time. HMRC is concentrating on the more serious
See MoreUK: Penalties for late individual tax returns waived
According to UK media reports the tax authority HMRC has decided to write off the GDP 100 penalty for late filing of the individual tax return for 890,000 people. This decision reportedly relates to the individual income tax returns for the year to
See MoreUK Issues Guidance on the Diverted Profits Tax
The UK included legislation to introduce the Diverted Profits Tax in the Finance Bill for 2015. Guidance on the tax was updated on 30 March 2015 to explain the changes to the provisions since the draft legislation was first published. The guidance
See MoreUK: Online Tax Summaries
More than 8 million taxpayers who filed their 2013 to 2014 tax return electronically by the 31 January deadline can now access their online tax summary. The summaries set out how much tax and National Insurance each person has paid in the tax year,
See MoreTurkey: Draft order to change electronic tax filing
The tax administration has issued Draft Order No. 397 on 16th December 2014 regarding a public consultation on electronic tax filing. Taxpayers who want to register to communicate electronically with the tax authorities must have a suitable
See MoreDenmark: Filing a paper form is no longer possible for companies
The Ministry of Taxation announced, on 3 February 2015, a new schedule relating to the digitalization of corporate tax filing. A new schedule was required as the necessary adjustments to the IT systems will be more time-consuming and complicated
See MoreUK: HMRC Receives Biggest Digital Self Assessment Ever
HM Revenue and Customs (HMRC) oversaw the biggest digital Self Assessment event ever this year, receiving 10.24 million tax returns by midnight on 31 January, it revealed today. A record 85.5% of these were sent online, with the busiest days for
See MoreNigeria: Public notice of new filing rules for non-resident companies
The Federal Inland Revenue Service (FIRS) has issued a public notice in accordance with section 55 of the Companies Income Tax Act (CITA) on 28th January 2015 requiring all resident and non-resident companies to file their tax returns on a real
See MoreUS: IRS Opens 2015 Tax Filing Season
The Internal Revenue Service (IRS) has announced the opening of the 2015 tax filing season and has highlighted a growing array of online services, including features that help taxpayers understand how the Affordable Care Act (ACA) will affect them
See MoreBulgaria: National Revenue Agency begins new electronic service
A new electronic service of the tax administration became available on 15th January 2015. The service permits companies and individuals to file tax returns and tax compliance documents through the National Revenue Agency (NRA)’s website by using a
See MoreUS: Tax Filing Season Will Open On Time
Following the passage of the extenders legislation, the Internal Revenue Service announced it anticipates opening the 2015 filing season as scheduled in January. The IRS will begin accepting tax returns electronically on Jan. 20. Paper tax returns
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