Progress towards reforming the US tax code will be delayed even further now that Max Baucus, the Montana Democrat who chairs the Senate Finance Committee, is moving to Beijing to take up his new role as US ambassador to China.
Italy’s parliament has passed the Google tax which will require companies to buy internet advertisements from locally-registered companies and not from companies based in tax havens including Bermuda and Ireland. But the proposal may violate EU laws on non-discrimination regarding commercial activity.
Two forthcoming issues of International Tax Review will include surveys of the leading tax transactional (March) and tax planning firms (May) around the world. The firms will be ranked after polls of corporate taxpayers. This is your opportunity to vote.
Max Baucus, chairman of the US Senate Finance Committee, has released an energy tax reform discussion draft which would repeal many incentives (or allow them to expire) and replace them with two tax credits for the production of clean electricity and clean fuels.
The Dutch Ministry of Finance has announced that the Netherlands and Curacao have agreed the text of a new bilateral tax arrangement designed to avoid double taxation. The agreement could create new tax planning opportunities.
Mauritius has agreed to insert a limitation of benefit (LOB) clause into its tax treaty with India, based on a threshold related to the level of company expenditure on the island nation.
