News

Legislation has been submitted to Congress from the Costa Rican government that will bring about a fundamental reform on the tax system.

The government of Singapore imposes a much lighter tax burden on the economy compared to the majority of other developed jurisdictions.

A requirement for taxpayers to submit a declaration form by September 30th each year with details of any transactions that may result in tax savings is stated in a Provisional Measure 685/2015 published in Brazil’s Official Gazette last July.

Danish police were alerted by Denmark’s tax authorities that foreign companies had drained more than €800 million from the system in what is being called the country’s biggest tax fraud.

The UK government have announced they will introduce a new stricter civil penalty regime for practitioners that enable their clients to evade tax.

Last week, the signing and ratification of an agreement between India and the Seychelles for exchanging information regarding taxes has been approved by the Union Cabinet, a crucial factor for enabling the government to fight "black money."

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.

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.

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.

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.