Quotes of the month

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Quotes of the month

"There is a certain section of civil society that undoubtedly believes that all transparency is good and the more the better. But it has to be remembered that information on, for example, product pricing models can be competitively sensitive, and should be protected as such."

Alan McLean, executive vice president of taxation and corporate structure at Shell, sounds a note of caution in the tax transparency debate.

"Guernsey is ahead of the curve and we look forward to other jurisdictions stepping up to the mark so that we can help create a level playing field on beneficial ownership."

Fiona Le Poidevin, chief executive of Guernsey Finance, raises the bar by thinking outside the box and digging down to break the world record for number of PR clichés in one sentence.

"Some high profile digital companies have indulged in BEPS strategies... [But this] does not make the digitised economy itself a cause of BEPS, but [the OECD] has yet to take the sensible step of entirely decoupling the subjects."

Glynn Fullelove, group director of tax at Informa, urges clarity in discussions of the OECD approach to tackling the tax challenges associated with the digital economy.

"Over half of the Conservative party's funding comes from the financial sector and our worry is that [UK Chancellor, George] Osborne is defending the city against the wider interests of Britain."

Simon Chouffot, of the Robin Hood Tax campaign, airs his fears in relation to progress on a European financial transaction tax.
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Luxembourg saw the highest increase in tax-to-GDP ratio out of OECD countries in 2023, according to the organisation’s new Revenue Statistics report
Ryan’s VAT practice leader for Europe tells ITR about promoting kindness, playing the violincello and why tax being boring is a ‘ridiculous’ idea
Technology is on the way to relieve tax advisers tired by onerous pillar two preparations, says Russell Gammon of Tax Systems
A high number of granted APAs demonstrates the Italian tax authorities' commitment to resolving TP issues proactively, experts say
Malta risks ceding tax revenues to jurisdictions that adopt the global minimum tax sooner, the IMF said
The UK and what has been dubbed its ‘second empire’ have been found to be responsible for 26% of all countries’ tax losses by the Tax Justice Network
Ireland offers more than just its competitive corporate tax environment but a reduction in the US rate under a Trump administration could affect the country, experts tell ITR
The ‘big four’ firm was originally prohibited from tendering for government work until December 1 due to its tax leaks scandal, but ongoing investigations into the matter have seen the date extended
Approximately 74% of MAP cases in 2023 reached a full resolution, but new transfer pricing MAP cases fell by 16%
Brazil is looking to impose the OECD’s 15% global minimum tax on multinationals; in other news, PwC is set to pull out of Fiji
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