News

Instability regarding the HMRC’s use of ‘reasonable care’ criterion

The Chartered Institute of Taxation and Association of Tax Technicians, conducted a survey, which revealed that members have serious concerns about the HMRC’s tendency to treat taxpayers’ errors as failure to take reasonable care and is inconsistent in its approach.


CDTA between Hong Kong and Italy comes into force

A Comprehensive Double Tax Agreement (CDTA) between Hong Kong and Italy was signed on January 14, 2013. This incorporates tax information exchange provisions based on the Organisation for Economic Cooperation and Development’s latest international standard.


Combatting tax evasion in Italy

The Guardia di Finanza (GdF), Italy’s financial police are checking around 59,000 people who have been transferring around €33bn from Italy to San Marino which is considered to be a tax haven.


EU Succession Regulation to be introduced next week

As of Monday the 17th of August, the EU Succession Regulation will come into force for the estates of those who pass away on or after that date with the European Union.


Canadian Supreme Court dismisses appeal in tax advisor case

The Supreme Court of Canada has dismissed the appeal of a case concerning a taxpayer, ruling that the tax advisor penalty in section 163 of the Income Tax Act is administrative in nature and therefore does not constitute a crime.


New measures in the UK will legalise formerly illegal building work

The government in the UK plans to introduce additional measures aimed at allowing town council and planning authorities to approve planned construction that would otherwise been classed as unlawful.


Nicosia Company found to be undermining Russia sanctions

A Nicosia based company was identified by the US authorities among others, to be helping call off western sanctions against Russia and Ukraine.


Amos Yee’s Lawyers request a Judge of different religion

SINGAPORE: Amos Yee was found guilty on May the 12th of intending to wound the religious feelings of Christians in a video, as well as of uploading an obscene image onto his blog.


Casino licence for Cyprus to start preliminary planning in September

It was announced that in September, Cyprus authorities will start to implement a competitive yet fair and transparent two-stage process to select the single licensee for a Cyprus based Integrated Casino Resort.