Search results for

The Australian government has been criticised for being too cautious in its response to the Henry review into tax reform, despite initial plans to dramatically overhaul the entire system.

The release of the Henry Review will not affect efforts to improve and enhance New Zealand's tax reform plans ahead of this month's budget, say leading tax professionals.

An opinion from the European Court of Justice (ECJ) could pave the way for some UK businesses to reclaim VAT they have paid on gifts and samples.

Intercompany debt financing has become a target for IRS litigation in the US, making advisers question whether tax authorities will continue to treat certain instruments as debt after they have been issued.

International Tax Review's weekly round up of the biggest deals and transactions.

A Hong Kong court judgment will likely lead the Inland Revenue Department to take a firmer position in considering apportionment claims under import processing agreements. The Court of First Instance last month handed a win to the tax authorities in CIR v CG Lighting, in their appeal against a previous ruling. Processing agreement with a third party in China; claim for a 50:50 apportionment on its taxable income.

Type of Agreement Country Country Date Signed Link Tax Information Exchange Agreement Netherlands Gibraltar April 23 2010 Link Double Taxation Agreement Singapore Saudi Arabia May 3 2010 Link Double Taxation Agreement Negotiation Philippines Syria May 7 2010 Link Double Taxation Agreement Austria Serbia May 7 2010 Link

Professionals do not expect to see any major changes to taxation when the UK budget is announced next Wednesday. At the same time, the proximity of a general election, due by the first week of June, means predictions are difficult. Taxpayers and their advisers have been left wishing for changes rather than forecasting them

Alistair Darling, the UK chancellor of the exchequer, announced that the government's Liechtenstein disclosure facility (LDF) has raised £1 billion ($1.5 billion) in extra revenue and said he plans to raise a further £1.5 billion (£2.2 billion) in other anti-avoidance provisions. The LDF allowed people with undeclared investments and deposits in Liechtenstein to settle their tax liability.

Pilipinas Shell has posted bond of 7.35 billion pesos ($161 million) to maintain imports and keep its refinery running, while a dispute over excise taxes heads to the courts.