International tax

Tax / President Trump signs executive orders on Dodd-Frank

The move towards an overhaul of the Dodd-Frank Act in the US is progressing with the issue of two executive orders following President Trump’s February announcement of a complete review of the effectiveness of the legislation 

Tax / IMF warning on Trump tax plan risks

President Trump’s plans for US tax reforms and a relaxation of some financial regulations risks destabilising corporate spending and could result in a return of the excessive financial risk taking seen in the run up to the 2008 crisis, according to the International Monetary Fund (IMF)

Tax / IRS spells trouble for US reality TV star

Tori Spelling, the daughter of late multimillionaire media mogul Aaron Spelling and star of the TV show ‘Beverly Hills, 90210’, has allegedly seen $700,000 drained from the family bank account by the Internal Revenue Service (IRS) in the latest episode in a long-running tax saga

Tax / US tax office extends filing deadline for overseas US residents

The Internal Revenue Service (IRS) has extended the 18 April filing deadline to taxpayers outside the US to 15 June

Tax / Potential traps to avoid in your VAT return - part 2

In part two of our series on VAT compliance, The Tax Guys managing partner Jonathan Amponsah outlines five potential pitfalls to avoid in making VAT returns from overseas transactions to whether to claim VAT on business entertainment

Tax / Trump tax reform hits setback

President Donald Trump’s plans for ambitious changes to US tax rules, including slashing the rate of corporation tax and introducing a one-off repatriation tax for multinationals with profits held offshore, are now likely to take longer to implement than previously expected

Tax / OECD sets out plans for first OECD Act on VAT

The OECD has set out plans to issue an official VAT and general sales tax act, incorporated into OECD guidance to help harmonise global compliance and collection to improve levels of VAT and general sales tax collection, and reduce evasion

Tax / US companies in line for $327bn offshore tax windfall

President Trump’s plans for a new one-off repatriation tax to encourage multinationals to bring offshore profits back to the US stands to give the 50 biggest US companies a windfall of between $312bn (£249bn) and $327bn (£260bn), according to research by Oxfam

Tax / Levine: US may shift to territorial tax regime

The US tax system could be on the cusp of a major shake up with adoption of a territorial corporate regime which will could hit importers heavily, explains Scott Levine, partner in the tax practice at global law firm Jones Day

Tax / Corporate interest restriction rules: compliance tips and advice

Ben Moseley, partner and Helen Chadwick, director at Deloitte LLP, analyses the impact of the corporate interest restriction rules effective 1 April 2017 providing insight into the complexities for multinational companies and compliance requirements

Tax / Brexit and EU rules: Anti-Tax Avoidance Directive (ATAD) - part 1

In the first of a series on EU Directives affecting the accounting and tax profession, both in statute and at the debate stage, Stefan Petrovski of Paris-based accounting firm, Primexis, analyses the significant changes that derive from recent EU directives in the accounting and finance field, starting with the Anti-Tax Avoidance Directive (ATAD) 

Tax / Wales introduces first new tax in 800 years

In a historic move, the National Assembly for Wales has passed the bill which will introduce the first new Welsh tax in 800 years, a land transaction tax which will replace stamp duty land tax and will come into effect on 1 April 2018

Tax / HMRC to pitch in on footballers’ image rights

In a bid to tackle tax issues relating to players’ image rights, the Treasury has initiated a specific football compliance project, and has announced that technical experts will visit all English Premier League, Championship and Scottish Premier League clubs over a three-year period

Tax / Brexit fears fail to dent UK tax appeal

Brexit uncertainties have not diminished the tax advantages of the UK as yet despite concerns about future trade deals and a drop in inward investment 

Tax / Hybrid mismatch guidance gives priority to national taxes in foreign jurisdictions

HMRC will consider national taxes in other jurisdictions the closest to UK equivalents over provincial levies, guidance released on hybrid mismatches shows