International tax

Tax / OECD set to review country-by-country reporting rules

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)

Tax / US tax authority treats cryptocurrency assets as ‘property’

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

Tax / MP accuses Netflix of ‘superhighway robbery’ on tax

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

Tax / OECD to push ahead with digital tax plans

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

Tax / Portugal looks to curb tax breaks for foreigners

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

Tax / Transact owner faces £4.3m VAT charge

IntegraFin Holdings plc (IHP), parent company of UK investment platform Transact, has been hit with an unexpected £4.3m VAT bill after HMRC challenged its inclusion of its Australian operations within its UK VAT group

Tax / Multinationals pay £5bn as profit shifting tax rules bite

HMRC has raised over £5bn since the diverted profits tax and changes to transfer pricing rules came into force five years ago as global businesses change tax policy

Tax / Non-resident UK companies to pay corporation tax on property income

From April 2020, non-UK resident companies will have to pay corporation tax on UK property income for the first time, with new rules for collective investment vehicles

Tax / Framework for UK/EU double taxation dispute resolution

HMRC has outlined proposals for new regulations designed to provide a more efficient framework for the resolution of double taxation disputes arising between the UK and other member states post-Brexit

Tax / Digital services tax will be temporary

The Chancellor has given the April digital services tax for multinationals the go ahead at the World Economic Forum, but only a short-term basis

Tax / Tax transparency essential to tackle $600bn avoidance bill

Businesses need to provide more transparent reporting on tax to give shareholders and the public a better understanding of their tax policy and wider contribution to society

Tax / Non-doms invest record £1bn using tax break

Non-domiciled individuals are putting record amounts into a government tax break designed to encourage investment in UK businesses

Tax / Rules on cross-border tax disclosure under DAC 6 refined

The government has published legislation requiring taxpayers and their advisers to disclose details of certain cross-border arrangements to HMRC as part of moves to crack down on tax avoidance, but has watered down the original penalty regime

Tax / Sussex split creates Royal tax headache

The Duke and Duchess of Sussex’s shock decision to break with tradition, spend more time abroad and seek to pursue separate financial arrangements from other senior members of the Royal family looks set to raise a number of complex trans-Atlantic tax issues

Tax / HMRC penalties hit £816m for late payment

Fines issued by HMRC have surged in value by nearly a third in the past three years, rising significantly faster than the amount of tax collected