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employees News

Tax-Privileged Free Trade Zones The OECD's Next Target

by Ulrika Lomas,, Brussels

Last updated 29 minutes ago | Monday, March 19, 2018

In a new report, the OECD has drawn attention to criminal activity in free trade zones, which typically offer tax privileges and lighter regulation, highlighting that they may be unintentionally fostering growth in counterfeit goods. Read Full Story


UK Invites Input On Potential Measures For Next Budget

by Jason Gorringe,, London

Tuesday, March 13, 2018

Having moved to a single Budget each year, the UK's Spring Statement featured only prospective changes to the UK tax regime, focusing on tax settings for digital firms and a new tax on single-use plastic waste. Read Full Story


UK Accountants Welcome Benefit-In-Kind Tax Simplifications

by Jason Gorringe,, London

Thursday, March 8, 2018

The Association of Taxation Technicians in the UK has welcomed the tax agency's proposal to simplify PAYE Settlement Agreements, which simplify the taxation of some benefits-in-kind for employers and allow employees to receive those benefits free of tax. Read Full Story


IRS Struggling To Authenticate Tax Credit Claims: TIGTA

by Mike Godfrey,, Washington

Wednesday, March 7, 2018

Internal Revenue Service processes do not properly prevent the issuance of refundable tax credit claims to taxpayers whose income is not supported, according to a March 1 audit report from the Treasury Inspector General for Tax Administration. Read Full Story


Australian Businesses Urged To Prepare For Payroll Reform

by Mary Swire,, Hong Kong

Wednesday, March 7, 2018

The Australian Taxation Office is urging businesses with 20 or more employees to ensure that they are prepared for the rollout of Single Touch Payroll in July. Read Full Story


IRS Updates W-4 Form And WHT Calculator

by Mike Godfrey,, Washington

Thursday, March 1, 2018

The Internal Revenue Service on February 28, 2018, released an updated Withholding Calculator and a new version of Form W-4 to help taxpayers check their 2018 tax withholding, following the passage of the Tax Cuts and Jobs Act in December. Read Full Story


IoM Budget Includes Plan For Bank Tax

by Amanda Banks,, London

Thursday, February 22, 2018

The Isle of Man's 2018 Budget maintains the zero percent company tax rate, and announces a banking tax review, which will look at taxing all banking profits at the 10 percent rate from next year. Read Full Story


IRS Urged To Immediately Correct Staff Bonus Shortcomings

by Mike Godfrey,, Washington

Tuesday, February 20, 2018

Kevin Brady, Chairman of the House Ways and Means Committee, and his counterpart in the Senate, Orrin Hatch, have called on the Internal Revenue Service to better screen bonuses paid to staff. Read Full Story


IMF Recommends Broad Tax Reform For The UK

by Jason Gorringe,, London

Tuesday, February 20, 2018

In its annual report for authorities in the UK, the International Monetary Fund said the country should consider reining in the scope of preferential value-added tax rates, equalizing the tax treatment of employed and self-employed persons, reforming property taxes, and reducing the corporate tax code's bias towards debt. Read Full Story


Japan's Cabinet Endorses Tax Reform Plans

by Mary Swire,, Hong Kong

Monday, February 5, 2018

Japan's Cabinet recently approved tax reform bills, which have now been introduced into the country's parliament for debate. Read Full Story



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