Offshore companies in the British Virgin Islands own assets of more than $1.5 trillion, according to a locally-commissioned report released on Wednesday. The report claims that the zero corporation tax-jurisdiction is not a tax haven, and looks to promote the British Virgin Islands over other tax neutral jurisdictions such as Delaware. But tax justice activists point to the underlying invitation to build avoidance schemes.
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A global tax framework may not materialise anytime soon, but a common set of principles is becoming increasingly necessary, Rudolf Winkenius also tells ITR
While pillar two can progress without the US, it won’t reach the same heights without American involvement, argues Renáta Bláhová, founding partner of BMB Partners Taxand
The deal comes after PwC had accused Paul McNab of using confidential information; in other news, McDermott hired a new London tax head from a US rival
Looking at transfer pricing simplification is “obviously helpful”, but it should be done in line with current standards, a senior government figure reportedly said