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HMRC Issues Electrician Amnesty Reminder 5/7/2012 HM Revenue and Customs has issued a reminder warning electricians that they have only a limited time left to register for a tax amnesty scheme that would allow them to pay any undisclosed tax owed.
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Hong Kong Will Not Change Depreciation Rules 5/3/2012 In reply to a question in the Legislative Council, Hong Kong’s Secretary
for Commerce and Economic Development, Gregory So, said that the government could
not permit Hong Kong enterprises with import processing subsidiaries in Mainland
China to submit claims for depreciation for machinery used there.
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CRA Reduces Burden On Tax Exempt Businesses 4/27/2012 Refunds and rebates will not be withheld from tax exempt corporations when they have outstanding tax returns, under rules set out by the Canada Revenue Agency.
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CRA Launches Business Account Service 4/19/2012 A new 'My Business Account' launched by the Canadian Revenue Agency is to give businesses access to help and advice on account-specific, tax-related questions.
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HMRC Launches 24-on-24 Webinar Programme 4/12/2012 HM Revenue and Customs' 'webinar' programme has been made available 24 hours a day, in a move designed to make information easier to access.
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Committee To Review Indian E-Refund Proposals 4/11/2012 A committee is to review India's e-refund system for the reimbursement of tax paid on taxable services used for the export of goods.
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HMRC Launches Bereavement Service 4/11/2012 HM Revenue and Customs is to improve and streamline its customer service programme by launching a Bereavement Service for taxpayers.
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HMRC Readies Businesses For Online VAT Returns 3/27/2012 HM Revenue and Customs has warned of big changes ahead, as it prepares businesses for the e-payment of value-added tax returns.
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Australia Launches New Superannuation Advice Website 3/23/2012 The Australian government has launched a new website designed to offer advice on and help with access to improvements in the superannuation system.
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Australia's Class Rulings Regime Reviewed 3/22/2012 The Inspector-General of Taxation has published its review into the Australian Taxation Office's administration of class rulings, recognizing the benefits of the system but acknowledging areas for improvement.
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Irish Revenue Issues Corporate Tax Filing Reminder 3/15/2012 The Irish Revenue has issued compliance reminder letters to those who have failed to file their corporate tax returns.
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UK Fiscal Watchdog Praises HMRC Compliance Efforts 3/13/2012 HM Revenue and Customs secured an additional GBP4.32bn (USD6.77bn) tax yield over the past five years thanks to a major tax evasion initiative, according to figures from the National Audit Office, which also found
that HMRC had successfully reduced staff numbers and introduced a range of improvements
in its compliance work.
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HMRC Responds To Transparency Concerns 3/5/2012 The UK tax authority HM Revenue and Customs claims that new governance arrangements will bring greater transparency, scrutiny and accountability to significant tax disputes.
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UK Late Filing Penalty Regime Kicks In 2/21/2012 850,000 UK taxpayers will feel the force of HM Revenue and Customs's new penalty regime in the coming weeks, as the first penalties are issued.
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Irish Revenue Brief On USC Released 2/6/2012 Ireland's Revenue agency has published an e-brief detailing the application by employers of the Universal Social Charge to social welfare-type payments.
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HMRC 'Extends' Tax Deadline 1/31/2012 The UK tax authority HM Revenue and Customs will show leniency to taxpayers who file their self-assessment returns after the January 31 deadline, after fears
that taxpayers would be unable to get through to call centres on the day, thus
placing them at a disadvantage.
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HMRC Makes PAYE Tax Code Change Proposals 1/23/2012 HM Revenue and Customs has released for comment draft legislation on proposed changes to the tax codes relating to share-based payments for former employees.
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Call For Clarity Over Irish Pension Tax Debacle 1/10/2012 The fallout from the Irish Revenue's disclosure that thousands of pensioners will receive an unexpected tax hit continues, with the agency forced to re-open customer enquiry lines and facing calls for a public information campaign.
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Irish Pensioners Facing Tax Hit 1/9/2012 115,000 Irish pensioners are to be hit by unexpected tax charges after new information came to light regarding inaccuracies in figures held across different government departments.
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UK Tax Institute Warns Of Tough New HMRC Penalties 1/2/2012 The UK's Self Assessment filers have been warned that HM Revenue and Customs is to impose a tough new penalty system from next year.
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New Year Tax Misery In Canada 1/2/2012 There will be winners and losers when the new year brings in major payroll and pension tax changes in Canada, the Canadian Taxpayers Federation has said.
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UK Issues Warning On Olympics Labour Taxes 12/21/2011 Employers taking on more staff ahead of the London Olympics must carry out checks to ensure their labour suppliers are paying the correct taxes, HM Revenue and Customs has said.
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HMRC Helps Employers Improve PAYE Systems 12/14/2011 HM Revenue and Customs is to help out at those businesses experiencing the most issues with data quality, in a drive to help employers improve their 'Pay As You Earn' information.
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BA Slams UK Travel Duty Hike 12/12/2011 Further rises in the UK's air passenger duty are completely at odds with the government’s declared aim of creating the foundations for growth, British Airways has said.
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HMRC Warns UK Businesses Of Upcoming VAT Filing Changes 12/9/2011 With e-filing and payment set to become mandatory for the UK's value-added tax registered businesses, HM Revenue and Customs has issued an alert detailing how the changes will work.
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Ireland Eases Tax Filing Requirements 11/9/2011 The Irish Revenue is to offer reductions in the frequency of certain tax returns and payments for smaller eligible businesses from January next year.
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UK Mulls VAT On Cosmetic Surgery 10/20/2011 Cosmetic surgery procedures in the UK may soon be subject to value-added tax, potentially raising the cost of operations by 20%.
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Court Backs HMRC In Key UK Residency Case 10/20/2011 International businessman Robert Gaines-Cooper has lost his long-running dispute with HM Revenue and Customs, with the UK's highest court ruling in favour of the taxman in a contentious dispute over the interpretation and application of residency guidance.
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HMRC Tackles Manufactured Overseas Dividends Tax Avoidance Scheme 9/16/2011 The UK expects to net approximately GBP40m a year from the immediate closure of a tax avoidance scheme, previously operational under a loophole which allowed companies to offset or claim repayment of UK tax which had never been paid.
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IRS Issues Guidance On Tax Treatment Of Mobile Phones 9/16/2011 The United States Internal Revenue Service has issued guidance designed
to clarify the tax treatment of employer-provided mobile phones as an excludable
fringe benefit.
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IRS Issues Estates Tax Guidance 8/10/2011 The United States Internal Revenue Service has issued guidance for
the treatment of certain estates of decedents who died in 2010.
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HRMC Must Reduce Running Costs, Says Report 7/21/2011 HM Revenue and Customs faces a significant challenge as it attempts to improve its financial situation by simultaneously reducing running costs, finding savings and increasing revenue intake, a new report has said.
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HMRC's VAT Taskforce Turns Attention To Fast Food Shops 7/14/2011 HM Revenue and Customs' crack down on tax evaders continues, with the government now using a taskforce to tackle alleged VAT abuse in London's fast food outlets.
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UK Continues GAAR Study 6/24/2011 The UK's study into a potential General Anti-Avoidance Rule has passed its halfway point, marked by the issuance of a summary letter to the Treasury, detailing the progress of the investigation.
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Irish Revenue Explains Relevant Contracts Tax Changes 6/10/2011 With the Finance Minister expected to sign off the changes, the Irish Revenue has issued information on amendments to the Relevant Contracts Tax scheme, outlining what it believes to be the main benefits for principals and subcontractors.
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HMRC Consults On Tax Avoidance Schemes 6/2/2011 The UK's crack down on tax avoidance continues, with three new consultations launched, designed to tackle high risk tax avoidance schemes, combat road vehicle value-added tax evasion, and amend the capital allowances system in relation to plant and machinery.
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UK Launches Consultation On Tax Reliefs 5/31/2011 Following the Chancellor's decision to abolish 43 tax reliefs, the UK is to consult on the removal of three quarters of these, in a bid to simplify what the government has called a "far too complex tax system".
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Brazil Makes Further Changes To IOF 5/31/2011 Brazil has introduced three new changes to its financial transactions tax, restoring the levy on certain private debt securities, amending collection procedures for small firms, and cutting the time the tax can be charged on bank debts.
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UK Tightens Pension Tax Rules 5/27/2011 The UK has launched two major new pensions tax policy initiatives, engaging in public consultation over plans to overhaul the rules on employer asset-backed contributions to certain pension schemes, and publishing draft legislation aimed at closing a loophole for UK residents transferring pension savings overseas.
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Irish Finance Bill Introduces Tax Changes 5/24/2011 The Irish government has released its latest Finance Bill, which is to give effect to a series of recently announced measures, including changes to research and development tax credits, the introduction of a second reduced rate of VAT, and the imposition of a controversial pension fund levy.
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Ireland Clarifies VAT Treatment Of SMS Donations 5/17/2011 The Irish Revenue agency has released a brief clarifying the correct value-added tax treatment applicable in respect of charitable donations made via mobile telephone text message shortcodes.
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UK's Disguised Remuneration Laws 'Too Complex' 5/18/2011 The UK's introduction of new changes to its disguised remuneration regime has been slated as far too complex, and criticized for involving penal legislation that risks creating problems as well as solving them, according to the Chartered Institute of Taxation's response to the proposals.
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HMRC Reiterates Plumbing Amnesty 4/27/2011 In line with its recently launched amnesty scheme, known as the "plumbers’s tax safe plan", the UK's revenue agency has begun alerting those affected, urging them to take advantage of the time afforded by the scheme, and warning of the consequences of non-compliance.
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BIR Clarifies Long-Term Deposit Interest Tax Treatment 4/21/2011 The Philippines’ Bureau of Internal Revenue has issued a circular
clarifying the income tax exemption of interest income earnings from long-term
deposits or investment certificates.
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HMRC Reminds Employers Of Compulsory Online Filing 4/20/2011 The UK's revenue agency has reminded employers that they must file their annual returns online by May 19, or almost certainly face a penalty.
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IRS Announces 'Qualified Disaster' Relief For Japan 4/12/2011 The United States Internal Revenue Service has issued guidance that designates
the earthquake and tsunami in Japan in March 2011 as a ‘qualified disaster’
for federal tax purposes.
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IRS To Ease Conflict With US Telecom Industry 4/6/2011 The United States Internal Revenue Service has announced the publication
of guidance for taxpayers in the telecommunications industry, with the aim of
resolving disputes involving the capitalization and depreciation of network assets.
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Australia Issues Guidance On APAs 3/31/2011 The Australian Tax Office has released guidance for taxpayers, their advisers and ATO staff on new processes designed to enable its advance pricing arrangement program to cope with increasing demand and complexity.
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Ireland Details Changes To Share-Based Remuneration 3/31/2011 The Irish Revenue has released detailed clarification of changes to share-based remuneration made in the Budget and Finance Act 2011, focusing on the charging of certain gains made by employees to universal social charge and pay-related social insurance, and on the impact on employers who are to be responsible for deduction and payment of most of the relevant charges.
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SARS Introduces New Tax Guides For Small Businesses 2/18/2011 The South African Revenue Service has issued a new Tax Guide for Small
Businesses 2010/11, which contains information about the tax laws and other statutory
obligations that apply to small businesses.
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IRS Asked For Guidance On Carryover Basis Rules 12/9/2010 The American Institute of Certified Public Accountants has asked the United
States Internal Revenue Service to issue guidance about how to apply
carryover basis rules for the assets, such as stocks and property, of taxpayers
who died in 2010 in order to settle their estates.
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Gaines-Cooper Wins Right To Appeal 8/17/2010 British-born tax exile Robert Gaines-Cooper has won the right to have his case heard in the UK Supreme Court in what will be the final chapter of a long-running legal battle with the UK tax man over his residence status for tax purposes.
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Italy Introduces Transfer Pricing Guidelines 6/9/2010 The Italian government has issued law decree 78, which contains a section bringing Italian transfer pricing documentation rules in line with Organization for Economic Cooperation and Development transfer pricing guidelines.
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ATO Reviews Tax Administration Progress 4/15/2010 During a recent speech to the Association of Taxation and Management Accountants,
Australia’s Tax Commissioner, Michael D’Ascenzo, reviewed some of
the tax administration improvements being put in place by the Australian Taxation
Office.
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Australia's Key Tax Issues Reviewed 4/14/2010 During a recent speech to the Institute of Chartered Accountants Business Forum
in Perth, Australia’s Assistant Treasurer, Nick Sherry, reviewed certain
key tax issues facing the government, including those relating to Australia as
a financial centre and to private equity investments in the country.
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Australian Govt Looking Closely At ATO's Private Equity Tax Rulings 2/23/2010 During a speech to a tax forum in Melbourne, Australia’s Assistant Treasurer,
Nick Sherry, disclosed that the government is looking closely at the two draft
determinations made by the Australian Taxation Office, on the tax treatment
of private equity investments by foreign investors.
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