WITH RUPERT MURDOCH’S business empire under intense scrutiny, attention has turned to News Corp’s tax affairs.
Its latest annual statement to the Securities and Exchange Commission shows News Corp’s effective tax rate at 20%, compared to the US’ 35% corporate tax rate, reported the FT.
Tax advisors said News Corp had benefited from its use of low tax jurisdictions to recognise profits, deferring taxes and speeding up the depreciation of its assets.
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Lord Howard Leigh of Hurley discusses the government’s initiatives to mitigate tax avoidance and evasion
Top 50+50: Demand for tax advisory services remains high, but fee pressure is expected in relation to compliance services
The demand for tax advisory services remains high and this looks to continue; but fee pressure is expected in relation to compliance services as the “Making Tax Digital” initiative is rolled out,
While some resistance to change is to be expected, the degree of controversy surrounding HMRC's Making Tax Digital proposals has surprised the government