Abu Dhabi Global Market, the low-tax financial center, has released regulations to implement the Common Reporting Standard, the OECD’s new international standard for the automatic exchange of financial account information in tax matters.
HM Revenue and Customs, the UK tax authority, has reported that it has collected more than GBP4bn (USD5.2bn) in advance tax payments from those taxpayers that have used a tax avoidance scheme.
An upsurge in global protectionism could result in the loss of 100,000 Australian jobs and see the average Australian household worse off by nearly AUD1,500 (USD1,188) a year, according to a new report by the Productivity Commission.
The South African Revenue Services and the National Treasury on July 19 released for public comment draft legislation that would give effect to the tax proposals announced in the February Budget.
Canadian resource company Gabriel Resources Ltd has said that it will „vigorously challenge“ a value-added tax assessment issued by the Romanian tax authority, ANAF, which it says is linked to its decision to begin arbitration proceedings against the Romanian Government.
The Australian Government has moved to clarify the tax treatment of foreign investors, following concerns over the practical operation of the Investment Manager Regime and the new tax system for managed investment trusts.