Search results for

Littlewoods, the retailer, has been successful in a case concerning VAT compound interest worth £1.2 billion ($2 billion).

Antonis Michaelides The Law Regulating Companies Providing Administrative Services and Related Matters, Law 196(I)/2012 (the Fiduciaries Law) was enacted in December 2012 establishing a licensing and supervisory body for corporate and fiduciary services providers as per Directive 2005/ 60/EC of the EU. Pursuant to Cyprus's commitment to transparency and enhanced regulations, on September 9 2013 Law 109(I)/2013 amended the Fiduciaries Law in respect to the disclosure of information on Cypriot international trusts.

Arne Schnitger

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Joint Acquisition $35.5 billion Yamana Gold and Agnico Eagle Mines Osisko Mining Corp. Paul, Weiss, Rifkind, Wharton & Garrison; Davies Ward Phillips & Vineberg Stikeman Elliott Interconditional Transaction $5.25 billion GlaxoSmithKline Novartis Slaughter and May - Dominic Robertson, James Hume, Emma Game, Alexander Berend

The OECD’s BEPS 2014 deliverables brought China’s key transfer pricing issues to the centre of the international stage. Cheng Chi, Ho-Yin Leung, Kelly Liao and Simon Liu of KPMG China analyse how China is leveraging BEPS to support new transfer pricing measures, ramping up anti-avoidance efforts through targeted investigations and encouraging taxpayer self-adjustments.

The China implications of the BEPS 2014 deliverables, and the parallel development of other tools for firmer international tax enforcement, are the focus of this article by Chris Xing, Lewis Lu, Sam Fan and Vincent Pang of KPMG China.

Modernisation, the ability for foreign entities to register for VAT and consolidation / grouping rules are just some of the things on the wish-list of Lachlan Wolfers, Shirley Shen, John Wang and Karmen Yeung, of KPMG China, as the VAT reforms continue to take shape.

Now in its fourth year, International Tax Review's Global Tax 50 provides a rundown of the who’s who of the tax world. One way or another, the individuals and organisations on this list have had an impact or influence on taxation that will be felt beyond, or outside of, the 12 month period covered by this list.

Delivering his Autumn Statement today, George Osborne announced new anti-avoidance measures for international businesses – including a 25% diverted profits tax – and repeated his statement that the UK is host to an environment of “low taxes, but taxes that will be paid”.

Following his appointment by Indonesia’s Finance Minister Bambang Brodjonegoro on December 1, new acting director general of taxation Mardiasmo has indicated his intention to improve Indonesia’s tax collection record by gaining access to taxpayers’ bank accounts.