08/16/2022
Tax rollover applied to share for share exchange despite tax saving motive
In this case, Euromoney negotiated terms with a third-party buyer to buy its shares in two joint venture companies.
Tax
08/08/2022
Cayman Islands Enforcement Guidelines: Common Reporting Standard and Economic Substance
The Guidelines set out the TIA’s principles and processes for taking enforcement action through administrative penalties for non-compliance under the CRS and the ES regimes.
08/08/2022
EY’s Rahul Kini named ‘Rising star in digital’
The awards have become a staple in the finance calendar, with more than 50,000 votes being cast by members of the public to determine the winners.
08/05/2022
Ed Renn featured in Accounting Today's recent article on the proposed Inflation Reduction Act of 2022
In the Accounting Today article, Ed shares that although the bill itself is a surprise, it does not contain a lot of surprises.
08/01/2022
GAAR advisory panel backs UK taxpayer in anti-abuse dispute for first time
The panel concluded that, despite the arrangements being contrary to the policy objectives of the legislation and exploiting a shortcoming in the legislation, the steps taken were a reasonable course of action for tax purposes.
07/29/2022
Getting ready for R&D tax credit regime changes
HMRC is reviewing the treatment of foreign branches of a UK company within this context, and we should understand more in due course.
07/28/2022
HMRC ‘Housted’ as a preferential creditor
When the Restructuring Plan was introduced, the government stated the intention was for it to be used not only for large multi-national entities, but for small and medium sized enterprises as well. So far, it has only really been used by big businesses.
07/28/2022
‘Not right time’ for alignment of UK employment status law for rights and tax
The response document states that the government will “work closely with stakeholders to explore longer-term options to improve the employment status system for tax to ensure it is as clear as possible and usable for all parties”.
07/27/2022
Global Legal Insights Corporate Tax 2022: Luxembourg
Transfer pricing requirements continue to expand along with increased enforcement activities by the Luxembourg tax authorities.
07/15/2022
Tax default can lead to FCA scrutiny
A person’s details may not be included in the list if the penalty has been reduced fully to account for the individuals’ co-operation and disclosure.
07/05/2022
Review of UK tax system needed to support net zero transition says report
Tax expert Penny Simmons of Pinsent Masons said that it was “important that the report had highlighted the need for a comprehensive review of tax policy to support the net zero transition.”
06/27/2022
Scott Levine among six inaugural recipients of D.C. Bar's Trailblazer Awards
Mr. Levine advises on the tax aspects of corporate transactions.
06/27/2022
Hong Kong’s Foreign Income Tax Reform
This change will have a profound effect on the taxation of such income in Hong Kong and we recommend that timely action be taken to prepare for the tax changes.
06/21/2022
Herbert Smith Freehills Sets Sights on Becoming Australia's Tax Law Leaders with Partner Acquisition
“Our clients have been incredibly supportive, seeing this as an exciting opportunity for the firm.”
06/21/2022
Working and holidaying across Hong Kong and Mainland China, there is tax to consider
Hong Kong adopts the territoriality basis of taxation, which means that only income sourced in Hong Kong is subject to taxation
06/16/2022
EU ESG – more problems for the nuclear and gas CDA
Two European Parliament committees have objected to the Commission’s proposals to include nuclear and gas activities within the EU’s sustainability taxonomy.
06/15/2022
The UK’s transfer of assets abroad tax regime
Any UK-resident taxpayer considering an offshore structure should consider the regime from the outset.
05/27/2022
Court of Appeal: transfer of assets abroad tax rules should be ‘kept in reserve’
Appeals against the statutory appeals and the judicial review were all heard together by the Court of Appeal.
05/25/2022
New York sales tax case regarding art leasing
An Administrative Law Judge initially rejected the petitioner’s claim for a sales tax refund
05/24/2022
Why HMRC measures to suspend R&D cash payments and manage error and fraud matter to claimants
After the economic shock of the pandemic, and going into what increasingly threatens to be a recession, cash funding for R&D is vital.