George Osborne, UK Chancellor of the Exchequer, has delivered his Autumn Statement, hitting employers with a new 0.5% charge on employers’ payrolls and pledging to bring in an extra £5 billion a year through tax avoidance action.
The UK’s revenue authority, HMRC, collected around an extra £3.5 billion in 2014-2015 by challenging large business on their corporate tax affairs - a lower figure than the £4 billion collected in 2013-2014.
G20 leaders in Antalya, Turkey have endorsed the OECD’s recommendations to counter base erosion and profit shifting (BEPS). The endorsement came during the November 16 G20 summit
Christine Lagarde, managing director of the IMF, has repeated her recommendation for GCC countries to use fiscal adjustment to counter the impact of oil price volatility. The implementation of VAT in the region now looks inevitable.
