Chile is undertaking the most thorough review and reform of its tax system in three decades, but is not conforming to the most common reform trends being seen elsewhere around the world. Worryingly for taxpayers, the proposals would raise the effective tax rate for some foreign investors to more than 44%, and introduce general anti-avoidance rules and a carbon tax.
COMMENT: Ahead of this month's G20 meetings in Cairns, Joe Hockey, Australian Treasurer, has reiterated the Abbott government's plans to clamp down on aggressive tax planning. But, like other jurisdictions including the UK, Hockey's rhetoric on attracting investment risks opening him up to accusations of trying to reconcile two opposing policies.
The fourth edition of International Tax Review's Tax Controversy Leaders guide is out now. Find out who the top-rated disputes specialists are in your jurisdiction.
COMMENT: George Osborne used inappropriate figures when boasting of the UK government’s success in clamping down on tax avoidance during the latest Budget, the UK Statistics Authority has found.
After the failure of the Pfizer-AstraZeneca transaction at the end of May, the two companies have now announced new deals with other companies. But the drugs companies could return to the proposed inversion deal later this month.
The $11 billion Burger King-Tim Hortons deal will see the new company located in Canada. Burger King company executives say it is motivated by growth opportunities rather than by any potential tax savings.
