Tuesday, December 23, 2014

Global Tax News and Analysis

Australia Proposes New Mineral Exploration Tax Credit

Oct. 13 —  Australia’s Treasury released Oct. 10 an exposure draft proposing amendments to the income tax law to implement a three-year exploration development incentive, enabling Australian-resident investors to claim deductions for their investments in small mineral exploration companies. The measure is part of the government’s election... [Read more of this article]


EU Ministers to Review FATCA-Inspired Law Requiring Exchange of Financial Data

By Joe Kirwin The European Union is expected to take its next major step in combating tax evasion Oct. 14 when finance ministers vote on a FATCA-inspired measure requiring automatic exchange of data about dividends, capital gains and other income generated from assets held in a financial account. The move to expand the EU administrative cooperation... [Read more of this article]


Swiss Move Toward Model 1 FATCA Pact Seen as Milestone in Transparency Effort

By Alison Bennett Oct. 9 —  Switzerland’s move toward a Model 1 intergovernmental agreement under the U.S. Foreign Account Tax Compliance Act marks a milestone as more countries agree to share information to ward off tax evasion, practitioners said. Switzerland’s Federal Council announced Oct. 8 that it has adopted negotiation mandates... [Read more of this article]


Stack: Developing Countries Unlikely To Expand Country-by-Country Template

By Kevin A. Bell Oct. 3 —  A U.S. Treasury official said developing countries, such as China and India, that adopt the Organization for Economic Cooperation and Development’s proposed country-by-country reporting template are unlikely to expand the template to the originally proposed 18 columns. Responding to a question from Herman Bouma of... [Read more of this article]


BEPS Project to Issue Discussion Draft On VAT Business-to-Consumer Transactions

Oct. 1 —  The Organization for Economic Cooperation and Development announced that the work under its joint project with the Group of 20 countries to combat base erosion and profit shifting will include a discussion draft on value-added tax business-to-consumer (B2C) transactions in early December. The deadline for comments on the draft will be in... [Read more of this article]


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