controlled foreign corporations (CFC) News

SARS Announces Temporary Relief From New CFC Reporting Rules
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, March 16, 2018
The South African Revenue Service has announced that it will temporarily permit taxpayers to report information on controlled foreign corporations under the old filing rules, which were replaced in February. Read Full Story

South Africa Legislates For Budget Tax Changes
by Lorys Charalambous, Tax-News.com, Cyprus
Thursday, July 20, 2017
The South African Revenue Services and the National Treasury on July 19 released for public comment draft legislation that would give effect to the tax proposals announced in the February Budget. Read Full Story

OECD Backs US International Tax Reform Efforts
by Ulrika Lomas, Tax-News.com, Brussels
Friday, June 17, 2016
The Organisation for Economic Co-operation and Development has, in its recent economic survey of the United States, welcomed steps taken by the Government to reform the country's international tax system. Read Full Story

US House Democrats Propose Corporate Exit Tax
by Mike Godfrey, Tax-News.com, Washington
Wednesday, May 4, 2016
A bill has been introduced by Lloyd Doggett, a senior member of the US House Ways and Means Committee, with the support of 50 other Democrat Representatives, to impose an exit tax on corporations that undertake corporate tax inversions or otherwise renounce their American citizenship. Read Full Story

SARS Issues Guide On Headquarter Company Taxation
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, February 23, 2016
The South African Revenue Service has issued an interpretation note that provides guidance on the application of the Income Tax Act to headquarter companies. Read Full Story

Ryan Questions If Tax Waivers Part Of US-Iran Deal
by Mike Godfrey, Tax-News.com, Washington
Friday, September 25, 2015
US House of Representatives Ways and Means Committee Chairman Paul Ryan has sent a letter to President Barack Obama asking him to clarify whether he intends to waive tax code provisions directed at illicit Iranian behavior. Read Full Story

Italy Amends Country 'Black Lists'
by Ulrika Lomas, Tax-News.com, Washington
Monday, April 6, 2015
On April 1, Italy's Minister of the Economy and Finance, Pier Carlo Padoan, signed two decrees that modify Italy's "black lists," and announced on the same day that Italy and the Vatican had signed their previously agreed tax information exchange agreement. Read Full Story

US Multinational Profits Drawn To Low-Tax Territories
by Mike Godfrey, Tax-News.com, Washington
Wednesday, February 6, 2013
A new study from the US Congressional Research Service shows that over the past decade, US multinationals have declared greater shares of their profits in low-tax jurisdictions. Read Full Story

End In Sight For Vodafone's Indian Tax Dispute
by Mary Swire, Tax-News.com, Hong Kong
Thursday, January 31, 2013
India's tax authorities are to hold a third rounds of talks with telecoms giant Vodafone in an effort to resolve their protracted dispute, Finance Minister P. Chidambaram confirmed in a series of interviews. Read Full Story

Vodafone, India To Talk Tax
by Mary Swire, Tax-News.com, Hong Kong
Tuesday, January 15, 2013
Representatives of the Indian tax authorities are set to meet with with telecoms giant Vodafone this week in an effort to resolve their long running tax dispute. Read Full Story
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