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controlled foreign corporations (CFC) News

UK Legislates For Budget Tax Measures

by Robert Lee,, London

Monday, April 2, 2012

The UK government has published Finance Bill 2012, which legislates for tax measures included in both the 2012 and 2011 Budgets. Read Full Story


OECD Forum To Simplify Transfer Pricing Rules

by Ulrika Lomas,, Brussels

Friday, March 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. Read Full Story


Australia To Amend Transfer Pricing Regime

by Mary Swire,, Hong Kong

Wednesday, March 21, 2012

The Australian government has released draft proposals that will launch the first stage of its reform of the transfer pricing system. Read Full Story


India Likely To Change Tax Law After Vodafone Case

by Mary Swire,, Hong Kong

Monday, February 6, 2012

The Indian government is planning to include additional provisions in the forthcoming Direct Taxes Code in an attempt to avoid future court clashes with multinational companies like Vodafone. Read Full Story


Tax Dispute Delays Ugandan Oil Stake Sales

by Lorys Charalambous,, Cyprus

Thursday, February 2, 2012

Tullow Oil’s sale of stakes in its Ugandan oilfields to Total of France and the China National Offshore Oil Corporation has been further delayed by the Ugandan government, following a dispute over tax compensation arrangements. Read Full Story


Vale Scores Victory In Brazilian Tax Appeal

by Mike Godfrey,, Washington

Wednesday, February 1, 2012

Vale, the world's second largest mining company has won an injunction in a long-running court battle against the Brazilian tax authority relating to claims for billions of dollars in back taxes said to be due on its foreign-sourced income. Read Full Story


Vodafone Wins Indian Tax Dispute

by Mary Swire,, Hong Kong

Wednesday, January 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. Read Full Story


France, Germany To Act Swiftly On Tax Convergence

by Ulrika Lomas,, Brussels

Friday, January 20, 2012

France and Germany have pledged to put forward concrete proposals for a common corporate tax base by the end of February, in a joint document outlining their strategy for exiting the crisis and for strengthening growth. Read Full Story


Obama's Job Council Recommends Tax Reform

by Mike Godfrey,, Washington

Friday, January 20, 2012

President Barack Obama's Council on Jobs and Competitiveness, set up a year ago, has presented its 72-page report, including recommendations to create a simpler, more efficient tax system that 'levels the playing field for businesses and makes the US more competitive internationally'. Read Full Story


Obama To Propose 'Insourcing' Tax Breaks

by Mike Godfrey,, Washington

Friday, January 13, 2012

United States President Barack Obama has announced that he will put forward new tax proposals in the coming weeks designed to reward companies that choose to invest or bring back jobs to the United States, and to eliminate tax advantages for companies moving jobs overseas. Read Full Story



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