The Internal Revenue Service has reported a substantial increase in the
number of US businesses and individuals claiming foreign tax credits on their
Doug Shulman, commissioner of the IRS, said the 133% increase in the number
of individuals claiming the credit between 2000 and 2007 was ‘eye-popping’,
During the same period, 71% of US companies claimed foreign tax credits.
He said the figures reflect the need for the US and global tax
administrations to press on with efforts to police international tax.
‘More businesses and individuals are using the global capital markets as a
vehicle for investment, illustrating the opportunities presented by the
development of capital markets, but also some of the challenges. Regulatory
bodies and governments worldwide are wrestling with complex challenges without
easy answers,’ he said.
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
The SME community voices concern about the chancellor's measures in the Spring Budget
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals
One of the bigger announcements of the final Spring Budget is the raising of Class 4 NICs for the self-employed