While this month’s interim Budget in India was merely a vote-on-account and went largely unheralded in the corporate tax world, Finance Minister Palaniappan Chidambaram did make pledges regarding the Direct Taxes Code (DTC) and goods and services taxation (GST).
The US tax reform discussion draft from Dave Camp, chairman of the House Ways and Means Committee, achieves two key goals for business, says John Engler, the leader of one of America’s most influential employers’ organisations: a corporate tax rate of 25% and a modern tax system.
The British Bankers Association (BBA) has called on Chancellor of the Exchequer George Osborne to end the bank levy. His 2014 Budget is less than a month away.
Flaherty’s back-to-back loan proposals could face a taxpayer backlash Jim Flaherty, Canadian finance minister, continued the theme of recent years when he delivered his 2014 Budget speech last week, focusing on improving the integrity of the country's tax system. He also announced measures that could see Canada acting unilaterally on issues being discussed at OECD level. With a pre-election Budget set to be handed down next year, any taxpayer-friendly measures were always likely to be overlooked this time around, so the lack of such announcements was no surprise. However, Flaherty did announce consultations on tax planning and treaty shopping, while there were also changes to the passive income rules for foreign subsidiaries.
Andrew Leigh, Australia's Shadow Treasurer, has urged Treasurer Joe Hockey to show strong leadership at the G20 meeting of finance ministers this week to progress global action to tackle base erosion and profit shifting (BEPS).
Jim Flaherty, Canadian finance minister, continued the theme of recent years when he delivered his 2014 Budget speech last week, focusing on improving the integrity of the country’s tax system. He also announced measures that could see Canada acting unilaterally on issues being discussed at OECD level.
