The US Treasury’s proposed regulations on ‘earnings stripping’ will cause headaches for foreign multinationals, including increased administration, additional costs and limitations with debt leveraging, tax advisors warn.
The world's largest multilateral organisations laid out plans for a joint ‘platform’ to help developing countries fight tax evasion, the first steps toward creating international standards. Tax campaigners aren’t convinced that the announcement actually assists developing countries.
When new rules proposed by the US Treasury stopped the $160 billion Pfizer-Allergan super-inversion in early April many Americans applauded. Some grumbled about unfair tax loopholes or blamed Ireland’s 12.5% corporate tax for luring away American companies who pay up to 35% tax back home.
Companies are doing a poor job communicating their tax positions, David Gauke, the financial secretary to the UK Treasury, told the European Tax Policy Forum conference in London today.
The European Commission’s crackdown on EU and foreign multinationals includes a plan to force MNEs operating in Europe to publish detailed country-by-country tax reports on their company websites – including financial data from offshore subsidiaries.
The European Commission is pushing EU and foreign multinationals to publish detailed country-by-country tax reports on their company websites – including financial data on their businesses in Europe and offshore.
