Multimillionaire Sir Richard Branson has been told that the government is not prepared to hand out a £500m bailout loan for Virgin Atlantic, the airline in which he owns a minority 20% stake, with majority shares held by EU and US owned carriers
The European Parliament has approved what MEPs termed ‘a massive recovery and reconstruction’ package to tackle the coronavirus pandemic, including ‘recovery bonds’ guaranteed by the EU budget. Pat Sweet
Global online marketplace eBay is calling for an international approach to digital taxation rather than countries adopting unilateral policies like the UK digital services tax
The OECD plans to develop a single set of reporting rules for countries to use to collect information about sales made via online platforms to assist future tax collection
The Cayman Islands has been put on an EU blacklist of tax havens, the first UK overseas territory to be named and shamed for failing to crack down on tax abuse
Telecom giant Vodafone’s Indian operations are in jeopardy following a court ruling requiring the company to immediately pay billions in unpaid tax and interest
The OECD has released the first detailed guidance on use of the arm's length principle for transfer pricing on financial transactions as part of its base erosion and profit shifting (BEPS) clampdown
HMRC is ramping up the use of its corporate criminal offences (CCO) powers, with nine businesses curently under investigation for failing to stop the facilitation of tax evasion
The OECD is consulting on a review of its country-by-country reporting (CBCR) standard which forms part of the ongoing work on base erosion and profit shifting (BEPS)
The US Internal Revenue Service (IRS) is under fire over its decision to classify cryptoassets as ‘property’ in its guidance on taxation for virtual currencies
Labour MP Margaret Hodge is calling for video streaming services to be included in the government’s new digital services tax (DST), amid claims that Netflix, responsible for TV hit The Crown, does not pay corporation tax in the UK
The OECD has made ‘a significant step’ forward in its efforts to reach a consensus-based approach to taxing the digital economy, although it admits the year end timetable will be tough to meet
Portugal is set to curb its tax cuts for foreigners, with plans to end zero-tax regime for foreign pensioners and limit ‘golden visa’ residence scheme for wealthy investors
