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Days after it emerged that Italian tax agencies were pursuing online retail giant Amazon for taxes worth EUR130m (USD142m), it was revealed that Google will pay a EUR306m (USD335m) tax settlement. Read Full Story
CPA Australia has released a survey showing that Hong Kong's simple and low-rate tax code continues to underpin the territory's global competitiveness, but that it faces stronger international tax competition. Read Full Story
On June 3, the Hong Kong Government gazetted the Inland Revenue (Amendment) (No. 2) Ordinance 2016, which enables the deduction of interest payable on money borrowed by a corporation carrying on an intra-group financing business in Hong Kong, and introduces a concessionary 8.25 percent profits tax rate for qualifying corporate treasury centers. Read Full Story
The information services providers, Colorado-based IHS Inc. and London-based Markit Ltd, have agreed to merge, in what is widely being seen as another "tax inversion" transaction. Read Full Story
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
The South African Revenue Service has issued a draft interpretation note to provide guidance on the interpretation and application of various provisions of the country's Income Tax Act relating to foreign dividends. Read Full Story
Two of the world's largest pharmaceutical companies, US-based Pfizer Inc. and Ireland-based Allergan Plc, have disclosed they are in merger talks to form what could be the largest-ever US corporate tax inversion, with a probable value of more than USD100bn. Read Full Story
As at June 1, 2015, the number of business operations in Hong Kong with parent companies overseas and in Mainland China had reached an all-time high of 7,904, up 4.2 percent on last year. Read Full Story
Letters released by its target on June 8 confirmed that US agricultural seeds, biotechnology, and chemicals company Monsanto would move its corporate headquarters overseas under a proposed merger with Switzerland-based Syngenta AG. Read Full Story
The UK is inhibiting its economy with a tax burden 18 percent heavier than the global average and should consider setting a specific target for lowering the overall tax take, according to research by accountants UHY Hacker Young. Read Full Story
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