The US government has unveiled plans for a new crackdown on tax avoidance.
It is hoped the move will put a dent in the country’s deficit which stands at
a record $1.56 trillion (£0.93trillion) this year.
Under the plan, US-based multinationals that transfer brands and patents to
foreign affiliates that pay little tax overseas- known as transfer pricing-
would pay a surcharge on the excess returns on those assets,
The administration also went a step further by announcing a potential
crackdown on companies’ rights to take immediate tax deductions on the interest
payments when borrowing cash to invest overseas.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states