Global Tax News and Analysis
European Commission Expects Deal On EU Cross-Border Savings Tax Reform
By Joe Kirwin
March 10 — European Union finance ministers will try to end an embarrassing six-year legislative saga March 11 when the European Council of Economic and Financial Affairs considers legislation to revamp the EU cross-border savings tax directive, which is so easy to evade it is also referred to in the financial service industry as the... [Read more of this article]
Practitioners Float Idea of Splitting BEPS Provisions From Tax Overhaul Effort
By Casey Wooten
March 7 — With foreign governments moving to enact anti-base erosion and profit shifting rules, the U.S. could be pressured to address the issue before moving on to a comprehensive tax code rewrite, practitioners said during a webcast.
A House Ways and Means Committee tax counsel, however, did not commit to the prospect during the... [Read more of this article]
Chinese Government to Expand VAT to Telecom Sector by April 1
By Leslie A. Pappas
March 6 — China will expand its value-added tax regime to the telecom sector by April 1 as part of a series of tax and fiscal changes for the year, the government announced during its annual legislative meeting in Beijing.
China’s leadership identified “tax reform” among the government’s top priorities for 2014,... [Read more of this article]
Swiss Cite Need for ‘Level Playing Field’In Automatic Information Exchange Accord
By Daniel Pruzin
March 3 — A future international agreement on automatic information exchange in tax matters must ensure a level playing field between financial institutions in different jurisdictions, including those in the U.S., the Swiss government said.
The message was conveyed in a meeting March 3 in Bern between Jacques de Watteville, Switzerland’s... [Read more of this article]
Mexico to Freeze Taxes, With No New Levies, Until 2018 to Boost Economic Growth
By Ivan Castano
Feb. 28 — Mexico will freeze current taxes and refrain from introducing new ones by 2018, apart from those established in the recently approved fiscal overhaul, the government announced.
The Ministry of Finance and Public Credit (SCHP) said in a statement Feb. 27 that the government won’t propose new levies, increase current... [Read more of this article]
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