Search Results for: Tax
International fight against tax fraud steps up a gear
July 5th, 2018
The UK, Canada, the Netherlands, the United States and Australia have launched an international tax and anti-money laundering team. The Joint Chiefs of Global Tax Enforcement (J5) body will build on existing international cooperation by sharing intelligence and expertise, ...
European Commission finds Luxembourg gave illegal tax benefits
June 28th, 2018
The European Commission has found that Luxembourg allowed two Engie group companies to avoid paying taxes on almost all their profits for about a decade. This is illegal under EU State aid rules because it gives Engie an undue ...
EU leaders to urge progress on digital tax despite concerns, draft says
June 20th, 2018
European Union leaders are expected to call for progress on new rules to tax companies’ digital revenues at a summit next week in Brussels, according to draft conclusions of the meeting. The text, which is still subject to change, ...
Tax haven myths challenged by think tank
June 19th, 2018
A new report debunks the myths surrounding the purposes of tax havens and challenges the image of ‘hotbeds of tax evasion.’ In research debunking myths about tax havens, UK think tank The Institute of Economic Affairs (IEA) argues tax ...
Is the EU ready for a Common Consolidated Corporate Tax Base?
June 12th, 2018
In 2011, an ambitious Common Consolidated Corporate Tax Base (CCCTB) directive was proposed by the European Commission. It sought to harmonise the 28 different corporate tax codes of the Member States into one set of rules while retaining the ...
Scandinavians split Europe on digital tax plan
June 6th, 2018
“A digital services tax deviates from fundamental principles of income taxation by applying the tax on gross income, i.e. without regard to whether the taxpayer is making a profit or not,” Swedish Finance Minister Magdalena Andersson, and the finance ...
Spain to introduce the first “Real” Digital Tax in the EU
June 1st, 2018
The Treasury will impose a 5% tax on foreign and Spanish companies’ digital services. This new tax will be on the intermediary services and the publicity and sale of digital data up to 5% of the turnover of all ...
EU sees $23.5 Billion in revenue from financial-transaction tax
May 23rd, 2018
A proposed tax on financial transactions in 10 European Union countries could generate about 19.6 billion euros ($23.5 billion) of annual revenue, though Brexit could make collection more difficult, according to a new estimate. Derivatives account for more than ...
Thailand introduces virtual currency trading tax rules
May 23rd, 2018
In a last-minute change ahead of the implementation of new tax rules for virtual currency trading, Thai lawmakers agreed that virtual currency trading on regulated exchanges should be exempt from value-added tax. Under the new regime, gains will be ...
EU set to remove Bahamas, St Kitts from tax haven blacklist
May 21st, 2018
European Union finance ministers are set to remove the Caribbean islands of the Bahamas and Saint Kitts and Nevis from an EU list of tax havens next week, EU documents show. The two islands had been included in the ...
