OECD
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Oct- 2022 -12 OctoberFeatures
What the mini-Budget means for business tax
Capital Allowances formed the backbone of post-pandemic business incentives last year as the Government looked to grow the economy through investment in productivity-enhancing plant and machinery. The Super Deduction, introduced in April 2021, provided a generous and unprecedented 130% first-year allowance on qualifying plant and machinery. But that relief is…
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Mar- 2022 -18 MarchComment
13 Spring Statement predictions
With both the global and UK economies coming under pressure from the rising cost of living crisis, which has only been exacerbated by Russia’s invasion of Ukraine, all eyes will be on the chancellor when he makes his Spring Statement speech on 23 March 2022. Here, Christy Wilson, tax associate…
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Feb- 2022 -8 FebruaryCorporate Tax
Post-Covid recovery: where to employ tax increases
With the pandemic becoming more steadily controlled, the spotlight has shifted onto how the UK economy now plans to recover. Yet according to PwC, “even before the Covid-19 crisis, many economies were in a difficult situation,” suggesting it will be far from plain sailing. The firm disclosed many labour markets…
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Oct- 2021 -22 OctoberLatest News
UK agrees DST transition toward new global tax system
The HMRC has announced that the UK has agreed a route forward to transition away from its digital services tax (DST) towards a new global tax system. The new system will ensure multinationals pay their fair share in the countries where they operate. It revealed the deal made by the…
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Aug- 2021 -3 AugustPeople Moves
Tax Justice Network chair John Christensen steps down
The Tax Justice Network has announced that John Christensen has stepped down from his role as chair of the group’s board. A founding director of the network in 2003, Christensen also served as chief executive at the group until 2016. Christensen, who previously acted as an economic adviser to the…
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Jul- 2021 -2 JulyEconomy
130 countries join international tax reform plan
Some 130 countries and jurisdictions have joined a new two-pillar plan to reform international taxation rules, according to the Organisation for Economic Co-operation and Development (OECD). The two-pillar package aims to ensure that large Multinational Enterprises (MNEs) pay tax where they operate and earn profits, while adding “much-needed certainty” and…
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Jun- 2021 -8 JuneCoronavirus
More consensus needed for G7 tax deal to achieve aims, says ICAEW
Greater consensus is needed for the G7 tax deal to achieve its ambitious aims, according to a leading accountancy organisation. According to the Institute of Chartered Accountants in England and Wales (ICAEW), a worldwide consensus will be needed if world leaders are to deliver a “fair and sustainable” recovery. Finance…
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May- 2021 -21 MayCorporate Tax
US Treasury makes ‘unprecedented progress’ towards global corporate tax rate
The US Treasury has claimed to have made “unprecedented progress” towards the introduction of a 15% global corporate minimum tax rate. The body announced that it was “heartened” by the positive feedback it received regarding the rate, which it said would bring an end to the “race to the bottom”…
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Mar- 2021 -29 MarchCorporate Tax
USTR threatens tariffs over DST charges on US companies
The United States Trade Representative (USTR) has announced the possible imposition of tariffs against the UK and other countries for discriminating against US digital companies in terms of international taxations. The action follows on from a Section 301 investigation of digital service taxes (DSTs) which reportedly found that the DSTs…
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22 MarchTax
Sunak delays debate for online sales tax until autumn
Chancellor Rishi Sunak will reportedly wait until autumn before deciding whether or not to impose a UK online sales tax which will attempt to level the playing field between online retailers and the high street. According to the Financial Times, Sunak is waiting until US president Joe Biden’s administration team…
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