AUGUST 20, 2013 | having difficulty Viewing this email? view THE online version

Welcome to the Tax-News weekly newsletter, carries topical headlines and features on international tax, legal, economics, business and investment issues.

Latest Tax-News Special Feature


Generally speaking, governments in free market economies like to encourage people to buy property, and they often help people to get their first foot on the property ladder. Equally however, land and real estate can be a useful cash cow for national treasuries, especially those most in need of revenue, and once enticed into the property market, investors may pay considerably more in real estate taxes. This article rounds up some of the main developments in the area of property taxation over the past few months.

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Latest Tax-News

US Accountants Oppose Any Limitation To Cash Accounting

In a letter to the House of Representatives Ways and Means Committee, the American Institute of Certified Public Accountants has expressed its opposition to a proposed limitation on the use of the cash method of accounting for certain enterprises that is contained in the Committee Chairman Dave Camp's small business tax reform discussion draft.
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HMRC Invites Charity Stamp Duty Refund Claims

HMRC Revenue and Customs is inviting claims from charities for overpaid Stamp Duty Land Tax, following a Court of Appeal ruling which confirmed that when a charity purchases property jointly with another person who is not a charity, tax relief remains available on the charity's share, subject to a test.
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Vodafone 'Settles' HMRC Tax Dispute

Telecoms company Vodafone struck a multimillion pound deal with the UK taxman to settle a dispute over an Irish subsidiary, it has been claimed.
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South Korea Toughens Up Rules On Overseas Accounts

In a bid to reduce the incidence of tax evasion, the National Tax Service is to impose heavier fines on those South Korean residents who are found to hold substantial unexplained financial accounts in overseas jurisdictions.
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