audit News

South Africa Launches Large Business Center
by Lorys Charalambous, Tax-News.com, Cyprus
Monday, October 28, 2019
On October 23, 2019, the Commissioner of the South African Revenue Service launched the re-established Large Business Centre, which aims to bring about higher levels of voluntary tax compliance among large taxpayers. Read Full Story

IRS Expands Virtual Currency Tax Guidance
by Mike Godfrey, Tax-News.com Washington
Friday, October 11, 2019
On October 9, 2019, the United States Internal Revenue Service issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency. Read Full Story

Irish Tax Investigations Typically Last Almost A Year
by Jason Gorringe, Tax-News.com, London
Friday, October 18, 2019
Ireland's Comptroller and Auditor General has released a new report on the Irish Revenue's compliance activities during 2018, and its efforts to improve how it interacts with taxpayers since a review in 2012. Read Full Story

Sanders Unveils US Wealth Tax
by Mike Godfrey, Tax-News.com Washington
Friday, September 27, 2019
United States Senator Bernie Sanders (D-VT), a leading contender for the Democratic presidential nomination, has proposed a new tax, as well as a series of enforcement measures, targeting America's wealthiest individuals. Read Full Story

Tax Experts Have Helped Developing Countries Net USD500m In Tax
by Ulrika Lomas, Tax-News.com, Brussels
Friday, September 27, 2019
The international community has made important progress in improving developing countries' ability to tax multinational enterprises and boost domestic revenue mobilization, says the annual report for the initiative Tax Inspectors Without Borders. Read Full Story

IRS Offers Settlement Scheme To Micro-Captives
by Mike Godfrey, Tax-News.com Washington
Friday, September 20, 2019
On September 16, 2019, the United States Internal Revenue Service announced the mailing of a time-limited settlement offer for certain taxpayers under audit who participated in abusive micro-captive insurance transactions. Read Full Story

Saudi Arabia Begins Requesting Local, Master File
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, September 20, 2019
The General Authority of Zakat and Tax (GAZT) in Saudi Arabia published final transfer pricing by-laws, including transfer pricing documentation requirements proposed under the OECD's 2013 Base Erosion and Profit Shifting (BEPS) Action 13 Plan, on February 15, 2019. GAZT has now begun formally requesting the submission of specific transfer pricing documentation, in relation to the fiscal year ending December 31, 2018. Read Full Story

India Seeking To Bury Legacy Indirect Tax Disputes This Year
by Mary Swire, Tax-News.com, Hong Kong
Friday, August 30, 2019
India will launch its legacy dispute scheme starting September 1, 2019. Read Full Story

Belgium Accepting Amendments To Filed CbC Reports
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, August 8, 2019
Belgium's tax agency has announced that its MyMinfin portal is now open for multinational taxpayers seeking to correct errors in filed country-by-country reports. Read Full Story

Slovenia To Launch VAT Probe Into Consignees
by Ulrika Lomas, Tax-News.con, Brussels
Thursday, July 25, 2019
The Slovenian tax authority announced on July 9, 2019, that it will increase tax compliance checks on companies carrying out certain services for foreign e-commerce platforms to ensure they are charging VAT when required. Read Full Story
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