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Panama must continue to improve tax transparency and how it exchanges information relevant in tax matters to sustain growth in its economy, the International Monetary Fund has said. Read Full Story
The tax measures contained Canadian Finance Minister Bill Morneau's second Budget are focused on closing loopholes, cracking down on tax evasion, and improving tax reliefs for the "middle class." Read Full Story
The Internal Revenue Service has granted those businesses affected by Winter Storm Stella additional time to request a six-month extension to file their 2016 federal income tax returns. Read Full Story
Low Income Taxpayer Clinics in the United States helped almost 20,000 taxpayers in disputes with the Internal Revenue Service in 2015, eliminating more than USD64m in tax liabilities, penalties, and interest. Read Full Story
Foreign investment restrictions on manufacturing and certain services are to be eased at the China (Shanghai) Pilot Free Trade Zone this year. Read Full Story
The UK Budget, released on March 9, 2017, featured tax measures to, among other things, hike taxes on self-employed workers, further close avenues for legal avoidance, and defer mandatory digital tax reporting until April 2019. Read Full Story
Laos should increase its revenues by broadening the tax base, reducing exemptions, and strengthening tax administration, the International Monetary Fund said in its Article IV Report for the country. Read Full Story
New Zealand's Inland Revenue Department has issued guidance on when income from professional services is derived for tax accounting purposes. Read Full Story
Small- and medium-size enterprises will need to make significant changes to comply with HM Revenue and Customs's (HMRC's) Making Tax Digital project, says a new survey. Read Full Story
HM Revenue and Customs's new measure to crackdown on abuse of a VAT simplification scheme for small businesses may be ineffective and have unwelcome consequences for tax-compliant businesses, the Chartered Institute of Taxation has said. Read Full Story
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