Anti-tax haven senator Carl Levin has launched a new and strengthened Stop
Tax Haven Abuse Act and speculation has already begun that, with Obama as
president, this time the proposals will find their way into law.
Levin is reported as saying that tax havens are engaged in ‘economic warfare’
against the US and they undermine the integrity of the US tax system, according
Levin’s previous effort in this area, launched in 2007, failed under a
Republican president. Obama was on record supporting the previous act.
Measures in the new act would include giving the Treasury the power to take
‘special measures’ against overseas jurisdictions and stiffen the penalties for
‘tax haven promoters’.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Smaller businesses could be excluded from government plans for making business transactions digital, found new research from ICAEW