China’s State Administration of Taxation (SAT) published its discussion draft on ‘Administrative Measures on the General Anti-Avoidance Rule (GAAR)’ this month, which outlines key principles and procedural guidelines for its implementation, but there is still more work to be done.
The European Commission’s pilot scheme looks to improve the framework for resolving cross-border VAT disputes, and while the project is making some positive strides in harmonising EU VAT, it requires better communication if it is to succeed.
HM Revenue & Customs (HMRC) will be granted the authority to issue ‘follower’ and ‘accelerated payment’ notices when the Finance Bill comes into effect later this month, forcing users of disclosed tax avoidance schemes to concede on tax disputes and make payments upfront to the revenue pending appeal.
The HM Revenue & Customs’ tax assurance commissioner, has released his annual report, outlining how the UK tax authorities has resolved disputes in the last 12 months, but while positive steps have been taken to work more collaboratively with big business, the authority still needs to provide greater clarity for taxpayers.
Arun Jaitley, Indian finance minister, wants to end continuing uncertainty surrounding the implementation of the goods and services tax (GST) by introducing the regime by the end of this year.
This week, Tony Abbott’s government will lead the charge in the Australian Senate to repeal the controversial carbon pricing mechanism, which imposed an annual A$100 million ($94 million) cost on Qantas alone. Big business welcomes the move, but environmental groups fear it will leave Australia without an effective policy to deal with climate change.
