 |
|
|
 |
|
|
|
|
New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
| |
| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
|
06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
|
08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
 |
| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
| |
|
| |
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| |
|
|
Senators Demand Answers From IRS On US Tax Gap,
by Leroy Baker, Tax-News.com, New York 01 February 2007
|
US Senators Max Baucus (D-Mont.) and Chuck Grassley (R-Iowa), Chairman and
Ranking Member, respectively, of the Senate committee with jurisdiction over
tax, have paid a visit to the IRS headquarters to ask senior executives at the
agency what they will do this year to close the $345 billion tax gap.
Baucus and Grassley have identified the tax gap – the gulf between taxes
legally owed and taxes actually collected in a timely fashion – as a drain
on the US economy and as a source of revenue to pay for US priorities. The Senators
met with IRS Commissioner Mark W. Everson and more than a dozen other senior
IRS staff, including Deputy Commissioner for Services and Enforcement Kevin
Brown, Deputy Commissioner for Operations Support Linda Stiff, and National
Taxpayer Advocate Nina Olson.
“I wanted the facts about the tax gap from the people charged with closing
it,” Baucus commented.
“The cash currently falling into the tax gap is needed to fund a fiscally
responsible government. We’ll work on legislative solutions in the Finance
Committee, but at the end of the day it’s the IRS’s responsibility
to collect the taxes that are owed through a balance of services, enforcement
and information technology. Today’s (Tuesday's) meeting showed me that
the IRS is making some headway, but there’s still much work left to be
done," he said.
Grassley added: “The tax gap isn’t new. In spite of the IRS’s
efforts to improve taxpayer compliance, the rate of voluntary, timely payment
has ranged from around 81% to around 84% over the past 30 years. That’s
why it’s disturbing that some members of Congress and maybe even some
IRS employees are trying to stifle the private debt collection program before
it’s had a chance to succeed. We use private contractors to help with
other government functions. With a $345 billion tax gap, we need every tool
available. And Senator Baucus and I built in extensive oversight and protections
of taxpayer rights.”
Among the topics discussed at the meeting were the true size of the tax gap,
the causes of the tax gap, and what can be done to close it administratively
and legislatively. The senators challenged the IRS to set goals and timelines
for closing the gap.
Citing inaccurate or unavailable data, the IRS leaders were unable to provide
an updated estimate of the size of the tax gap, projected to be $345 billion
each year in 2001, or to say to what extent they realistically could close it
within a certain date. They identified tax law complexities, lack of resources
and outdated information technology as leading challenges to closing the gap,
and urged Baucus and Grassley to enact information reporting requirements to
increase compliance.
Treasury Secretary Henry Paulson is expected to testify before the Finance
Committee at an upcoming hearing on his department’s plan to close the
tax gap, and provide its missing revenue to the US Treasury.
.
|
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
TAX-NEWS.COM
Free Tax-News Feed