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India Reassures US On Retrospective Tax Plans 4/24/2012 India's Finance Minister Shri Pranab Mukherjee has defended plans for retrospective tax legislation, telling the US Secretary of the Treasury that the proposals merely clarify the intent of current laws.
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Vodafone Challenges Indian Tax Law 4/23/2012 The ongoing tax dispute between India and Vodafone has erupted again, with the telecoms company now serving a Notice of Dispute against the government's controversial new retrospective tax legislation.
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OECD Forum To Simplify Transfer Pricing Rules 3/30/2012 Meeting at the first Organization for Economic Cooperation and Development Global Forum on Transfer Pricing, tax officials from
90 countries agreed on the need to simplify transfer pricing rules, strengthen
the guidelines on intangible issues and improve the efficiency of dispute resolution.
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Vodafone Wins Indian Tax Dispute 1/25/2012 India’s Supreme Court has ruled that Vodafone Group Plc is not liable for a USD2.2bn bill in back taxes and penalties after the USD11.2bn acquisition of Indian mobile phone company Hutchinson Essar in 2007.
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Vodafone's Indian Tax Bill May Double 7/6/2011 Leading telecoms company Vodafone has warned that the firm's back tax liability in India could double if the Indian Supreme Court rules in favour of the country's tax authorities with regard to a long-standing tax dispute.
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India And Mauritius Resume Tax Talks 6/27/2011 India and Mauritius have agreed to further discuss the double tax avoidance treaty that currently exists between the two countries, with the aim of making revisions to the agreement.
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Indian Vodafone Tax Case Adjourned 5/16/2011 The long-running court case involving the tax liability of Vodafone’s acquisition of an Indian mobile phone company in 2007 continues, with the Authority for Advance Ruling (AAR) adjourning the case until May 24.
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Vodafone Dismisses Indian Tax Compromise 3/23/2011 Vodafone has said that it continues to believe the company had no tax liability over the purchase of an Indian mobile phone company in 2007, despite reports that it is ready to compromise with the Indian tax authorities.
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India To Open Eight Overseas Tax Units 3/18/2011 The Indian Minister of State for Finance (Revenue) Shri S S Palanimanickam has announced that the government has made plans to launch eight new Income Tax Overseas Units in France, Germany, Netherlands, Cyprus, USA, UK, UAE and Japan in the next financial year.
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Vodafone Tax Appeal In India Deferred Again 2/10/2011 India's Bombay High Court deferred a hearing on Vodafone’s dispute with the Indian tax office on Tuesday (February 8), and has not specified a date for a new one.
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Report Highlights EU's Double Tax Problems 2/4/2011 The European Commission has published a new report describing responses the European Union has received from a consultation launched in mid-2010, in which respondees were asked to submit details of previous cross border tax problems.
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EU Extends Mandate of Transfer Pricing Forum 1/31/2011 The European Commission has decided to extend the mandate of the European Union Joint Transfer Pricing Forum until March 2015, and has also adopted
a communication setting out guidelines on two technical issues related to transfer
pricing taxation.
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Argentina Catches Up On Tax Agreements 11/3/2010 The head of Argentina's Federal Administration of Public Revenue, Ricardo Echegaray has announced the signing of tax information exchange agreements with Russia, Italy and France as part of its strategy to crack down on tax evasion.
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Senate Kills Anti-Offshoring Bill 9/30/2010 A bill which proposed a payroll tax holiday to companies hiring American workers to replace those at a foreign-based operation whilst removing tax breaks from those companies moving operations abroad has been voted down by the Senate.
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James Hardie To Appeal Australian Tax Ruling 9/20/2010 James Hardie Industries has announced that RCI Pty Ltd, its wholly-owned
Australian subsidiary, will appeal to the Full Federal Court of Australia against
the decision of the Federal Court rejecting the appeal of an amended assessment
by the Australian Taxation Office for the income tax year ended March 31
1999.
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Vodafone Loses In Mumbai High Court 9/13/2010 UK telecoms giant Vodafone has expressed continuing confidence that it is not liable for Indian capital gains tax from its purchase of the Indian mobile phone network Hutchison Essar in 2007 despite a setback in the Mumbai High Court.
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ATO's Tax Claim Against James Hardie Upheld 9/8/2010 US building materials firm, James Hardie has not yet stated whether it is to appeal a recent Federal Court tax ruling, which upheld the Australian Tax Office’s claims that the firm's wholly-owned subsidiary RCI Pty Ltd owes back taxes and interest, resulting from a company restructuring in 1998-1999.
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EC Consults On Interest And Royalties Directive 8/31/2010 The European Commission has announced a consultation on a recast and amended version of the Council Directive on the taxation of cross border interest and royalty payments between associated companies of different member states.
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IRS Strengthens Focus On International Tax Compliance 8/6/2010 The US Internal Revenue Service has announced the realignment of its large
and mid-size business division to create a more centralized organization
dedicated to improving international tax compliance.
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Travers Issues Robust Cayman Defence 8/5/2010 In an open letter, Anthony Travers,
the Chairman of Cayman Finance, has denounced US Senator Carl Levin’s endorsement and usage
of a report issued by the ‘Business and Investors Against Tax Haven Abuse’
group, which Travers has said is fallacious and "misguided."
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Vodafone Appeals Indian Tax Order 6/9/2010 UK telecoms multinational Vodafone has responded to the Indian Income Tax department's reassertion of its jurisdiction to levy withholding tax on the USD11.1bn sale to Vodafone of a 67% stake in Hutchinson Essar in 2007 with an appeal to the Bombay High Court.
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India Asserts Tax Claim Against Vodafone 6/7/2010 The Indian tax authorities have reasserted their belief that they have jurisdiction
to levy withholding tax on the USD11.1bn sale to Vodafone of a 67% stake in Hutchinson
Essar in 2007.
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Ireland Set For New Transfer Pricing Rules 6/7/2010 Speaking at PricewaterhouseCoopers’s ‘Supporting Growth - Protecting
Wealth’ conference, Siobhan Baldwin, Tax Director in PwC’s Private
Company Services arm, warned of changes to Irish transfer pricing rules that
will affect arrangements made after July 1, 2010.
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Indian Ruling Backs Mauritius Tax Treaty 3/25/2010 After a long running dispute on the incidence of capital gains tax, the Indian Authority for Advance Rulings has issued a ruling which maintains the validity of Article 13 (4) of the India Mauritius double taxation treaty on exemption from capital gains tax normally payable in India.
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