June 15th, 2009
Some huge news out of the UK today as the UK Treasury has announced that it will push for the adoption of country-by-country reporting at the upcoming meeting of Finance Ministers in Berlin. From the
Guardian:
The UK is backing calls to force multinational companies to reveal precisely how much tax they pay in each jurisdiction they operate in. The move is being hailed as a significant breakthrough towards ending tax secrecy.
Stephen Timms, the financial secretary to the Treasury, will tell G20 ministers gathering for a meeting in Berlin next...
June 15th, 2009
The UK is backing calls to force multinational companies to reveal precisely how much tax they pay in each jurisdiction they operate in. The move is being hailed as a significant breakthrough towards ending tax secrecy.
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June 15th, 2009
Signed today – and slipped out on HMRC’s web site without a press release (I wonder why?) is a double tax agreement (yes, I mean that – a DTA, not a Tax Information Exchange Agreement) with the Cayman islands.
It’s
available here.
It’s not, I hasten to add a full blown DTA.
But then, it’s not a full blown TIEA either.
In fact the extraordinary thing is that the information exchange clause is far less onerous than a TIEA. So, for example, there is no reference to the need for the parties to be able to prove beneficial ownership of trusts,...
June 13th, 2009
The growing industry has aided corruption, fraud and unethical governance. Why does the state help it audit society at a profit?
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