The OECD has published stakeholder responses to its discussion draft on Action Point 6 of the BEPS Action Plan, which deals with treaty abuse. Funds and asset managers are calling for disparate treatment of collective investment vehicles (CIVs), while others are urging the OECD to reconsider its treaty preamble.
Starbucks is set to pay more tax in the UK after today announcing it will move its European headquarters from the Netherlands to London. It has also pledged to create 1,000 new jobs in the country.
UK Chancellor of the Exchequer George Osborne is granting HMRC new powers to prosecute those who evade taxes by stashing money offshore. The tax authority will no longer have to prove that a taxpayer intentionally evaded taxes.
The Parthasarathi Shome-led Tax Administration Reform Commission (TARC) will next month release its first report since being set up to review existing tax administration mechanisms in India and make recommendations for improvement.
After similar pleas throughout the past year, most recently from the Australian Tax Institute last month, Macquarie Group has now joined the calls for Australia to reduce its corporate tax rate. Macquarie says a 25% rate is necessary if Australia wants to become a regional financial services hub.
