International tax

Tax / Government consults on extension of royalty withholding tax

The government is consulting on draft legislation to extend the scope of royalty withholding tax by charging multinationals income tax on offshore receipts related to intangible property (ORIP) including brands and patents

Tax / Prosecutions top 1,000 as HMRC focuses on tax evasion by individuals

The government launched 1,007 prosecutions against individuals for tax evasion offences last year, as the HMRC clampdown on tax evaders intensified

Tax / France close to launching 3% digital services tax

France is likely to introduce a digital services tax after the Senate voted heavily in favour of the government’s plans, although with an amendment that the tax should only be a temporary measure for three years

Tax / UK most expensive country to send expatriates

The UK has overtaken Japan as the most expensive location to send expatriates, despite salaries remaining static, because of increases in tax and essential costs, including housing

Tax / EY alliance with Thomson Reuters on digital tax services

EY is teaming up with Thomson Reuters to develop leading-edge, digitally enabled tax services targeted at mulitnationals operating across tax jurisdictions

Tax / FTSE 250 Cobham in £70m one-off tax payment

FTSE 250 aerospace and defence company Cobham has agreed to make a one-off tax payment of £55m, plus an interest payment of £14m, to settle a long running dispute with HMRC

Tax / HMRC toughens position on use of offshore trusts to avoid tax

HMRC is cracking down on the use of disguised remuneration and contractor loans after winning two tax avoidance cases at the tax tribunal over use of offshore trusts to avoid tax and NICs

Tax / What you need to know: diverted profits tax – part 2

In the second of a three part series on the diverted profits tax (DPT), Mark Cawthron LLB CTA, tax writer at Croner-i considers recent developments from UK implementation to interaction with OECD Base Erosion and Profit Shifting (BEPS) rules

Tax / Pakistan to offer taxpayer amnesty on hidden assets

Pakistan is set to introduce a time-limited amnesty allowing taxpayers at home and abroad to regularise any undeclared assets, as part of plans to raise revenue and improve the performance of the economy

Tax / Tax planning: Luxembourg cuts corporation tax rate to 17%

Following the smooth passage of a new Budget bill, Luxembourg has cut the rate of corporate income tax to 17% with immediate effect to attract more international investors, but beware the tax compliance issues for multinationals, says William Jean-Baptiste, partner at Ogier

Tax / Ethical investment directors banned over tax scheme withdrawals

Three directors of a company offering so-called ethical Costa Rican plantation investments have been banned after withdrawing over £7m from a tax planning scheme when they knew it was being investigated by HMRC

Tax / What you need to know: diverted profits tax – part 1

In the first of a three part series on the diverted profits tax (DPT), Mark Cawthron LLB CTA, tax writer at Croner-I considers whether it has acted as a deterrent to multinationals attempting to mitigate their tax bills and compliance issues

Tax / Moral outrage forces richest taxpayers to avoid tax schemes

The UK’s wealthiest taxpayers are becoming more wary about using complex tax planning and contrived tax avoidance schemes, after public concerns about moral behaviour, but still view inheritance tax (IHT) as a punitive ‘double tax’, reports Pat Sweet

Tax / Nunn: VAT surcharge decision highlights MTD penalty threat

Yvette Nunn CTA, director of Berkeley Associates, welcomes a sensible decision in the recent Farrell VAT surcharge case, but fears the tribunal system will not cope unless HMRC ditches automatic penalties when Making Tax Digital for VAT is in full force

Tax / French tax rates for high net worth individuals lowered

The French finance bill for 2019 adjusted the general 30% flat tax on financial incomes, the real estate wealth tax and the business transmission tax regime for high net worth individuals in a bid to keep more wealthy French at home. Benoît Couty, partner at Pichard & Associés, examines the changes
Subscribe