A report from PwC shows that most people in the UK view an overseas business moving its headquarters to the country as a positive sign, despite some of the negative press reaction to foreign companies such as Starbucks availing themselves of the benefits of being in the country but not contributing a “fair” level of tax.
David Cameron, UK Prime Minister, has announced a proposal for a register of company ownership, to “shine a spotlight on who owns what and where money is really flowing”.
New Australian Treasurer Joe Hockey has put certainty and stability at the top of his agenda Joe Hockey, Australian Treasurer, told the American Australian Association last month in New York that Australia is open for business and open for investment as he announced a "new era" of tax reform. The title of the Treasurer's speech – Australia: Open for Business – had echoes of the UK coalition government's corporate tax agenda, suggesting that the new Australian government might be looking to follow the UK's lead of cutting corporation tax and introducing incentives to attract foreign investment.
Matthew Gilleard analyses the corporate tax trends that will dominate taxpayers’ time in 2014, discovering that while base erosion and profit shifting will certainly continue to be the buzzwords of international taxation, there will be plenty of other issues keeping tax departments busy next year.
Al Groff, Washington DC based partner at Shearman & Sterling, shares his insights into the year ahead, outlining an optimism for US tax reform that is not shared by all, concerns about reporting obligations, and hopes for a continued pick-up in deal activity.
The European Commission said the regime contravenes certain provisions in the EU’s Code of Conduct on Taxation. The code is voluntary, but if the UK does not acknowledge the opinion (delivered to finance ministers on Tuesday) it would be the first time a member state’s government has ignored a commission opinion.
