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EU's Tax Blacklist Lacks Legitimacy Without Transparency: MEPs

by Ulrika Lomas, Tax-News.com, Brussels

Thursday, January 25, 2018

Greens/EFA members of the European Parliament have called on the EU Code of Conduct Group to be more transparent about the criteria it used to create the EU's new blacklist of non-cooperative territories and how it will manage it going forward. Read Full Story

 


IRS Loses FBAR Non-Compliance Case

Mike Godfrey, Tax-News.com, Washington

Thursday, January 18, 2018

In its first case of 2018, the US Tax Court ruled in favor of the taxpayer in a case concerning the statute of limitations and non-compliance with the FBAR requirements. Read Full Story

 


US Steel Industry Hopeful Of New Steel Import Duties

Mike Godfrey, Tax-News.com, Washington

Wednesday, January 17, 2018

US manufacturers are optimistic that President Trump could impose new tariffs on steel and aluminum imports within the next three months, following the conclusion of a long-running Commerce investigation last week. Read Full Story

 


USITC Confirms Countervailing Duties On Tubing From China, India

by Mike Godfrey, Tax-News.com, Washington

Thursday, January 11, 2018

The United States International Trade Commission will issue countervailing duty orders on imports of cold-drawn mechanical tubing from China and India, after determining that they are causing material injury to US manufacturers. Read Full Story

 


Study Into Australian Miners' Tax Contribution

by Mary Swire, Tax-News.com, Hong Kong

Tuesday, January 9, 2018

The Minerals Council of Australia has drawn attention to an independent study into the tax contribution of the mining industry, noting that firms paid an average effective tax rate of 51 percent in 2015-16. Read Full Story

 


Philippines To Move To Second Phase Of Tax Reform Plan

by Mary Swire, Tax-News.com, Hong Kong

Monday, January 8, 2018

The Philippines is to take forward its tax reform agenda in January, with a second package of proposals to be tabled before Congress, after the first package was endorsed with some vetoes by President Rodrigo Duterte. Read Full Story

 


Ireland Guides On Scope Of Corporate Tax

by Jason Gorringe, Tax-News.com, London

Wednesday, December 27, 2017

On December 22, 2017, the Irish Revenue Commissioners released guidance on the applicability of the 12.5 percent rate of corporate income tax to different activities, focusing on the criteria for classifying activities as trading. Read Full Story

 


Oman Confirms No VAT In 2018

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, December 27, 2017

Oman has officially stated it will not be joining the United Arab Emirates and Saudi Arabia in introducing the agreed Gulf Cooperation Council value-added tax until at least 2019. Read Full Story

 


IMF Reports On Middle East's Fiscal Challenges

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, December 21, 2017

The International Monetary Fund has published a new paper on the fiscal consolidation challenges being faced by the members of the Gulf Cooperation Council – Kuwait, Qatar, Oman, Saudi Arabia, Bahrain, and the United Arab Emirates – whose tax revenues have been depressed due to persistently low oil prices. Read Full Story

 


ING Group Loses 'Banking Services' VAT Appeal

by Jason Gorringe, Tax-News.com, London

Tuesday, December 19, 2017

The UK Court of Appeal has dismissed an appeal brought by ING Group against rulings from the Upper Tribunal and the First-Tier Tribunal concerning the group's inability to recover VAT incurred on costs associated with providing what it considered was limited to a deposit-taking business for no consideration, which would fall outside the scope of VAT, and the UK tax authority, HM Revenue and Customs, instead arguing, successfully, that it was supplying exempt banking services, against which the taxpayer could not recover output tax. Read Full Story

 

 

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