News

EC launches VAT reform consultation

The EC has launched a consultation regarding reforms surrounding EU legislation governing VAT rates.


Australian Tax Office to pass unpaid tax debts to credit agencies

As per new legislation recently announced by the government, the Australian Taxation Office (ATO), going forward, will be allowed to disclose any data regarding the tax debts of certain businesses to relevant credit reporting officials.


Mauritius government publically repudiates tax haven status

Mauritius's Financial Services Commission (FSC) has spoken out after an Oxfam policy paper gave the jurisdiction a tax haven label, which the Financial Services Promotion Agency (FSPA) has also publically repudiated.


HMRC lacks contingency plan for new online tax repayment system

The HMRC in the UK has boldly decided not to take any contingency measures with the Treasury in the event it should run into complications with the digitisation of the tax system.


Lords seek explanation on what constitutes “true and fair”

The Financial Reporting Council (FRC) has so far not spoken out about the requests from the House of Lords Economic Affairs Select Committee to explain what constitutes ‘fair & true’.


OTS: Gig economy in the UK could result in serious tax loses

The Office of Tax Simplification warns that as a result of the ‘hidden economy’ that is growing in the UK, the lost tax could escalate due to the ad hoc nature of employment as a result.


Singapore will continue work with remaining TPP partners to find a solution

A Ministry of Trade and Industry spokesperson for Singapore has released a statement showing its commitment to continue working with other countries on the Trans-Pacific Partnership (TPP) in spite of the US’ recent talks of withdrawal.


German Finance Minister warns of UK’s tax position after leaving the EU

In an interview with the Financial Times, German Finance Minister & Politician, Mr Wolfgang Schauble has claimed that the current G20 regulations regarding tax avoidance would limit the UK’s aptitude to give tax breaks to companies where due after leaving the European Union.