The Central Board of Direct Taxes (CBDT) in India has launched a pilot project of paperless revenue audits, under which tax officers will send Revenue audit notices and information requirements to the taxpayer via email.
The latest meeting of the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes took place in Bridgetown, Barbados between October 29 and October 31.
The G20 finance ministers on October 8 endorsed the final package of recommendations presented to them in Lima, Peru by the OECD, marking the end of the Paris-based organisation’s project to tackle base erosion and profit shifting (BEPS). National authorities are now beginning to react.
The OECD today delivered the second part of its recommendations to reform international tax rules by tackling base erosion and profit shifting (BEPS). While unanimity across all points discussed was impossible, a higher level of agreement - either in the form of consensus or agreement on 'minimum standards' - has been achieved than many expected, though this has not stopped non-governmental organisations (NGOs) from criticising the package as "a sticking-plaster approach".
India hopes implementing the Shah recommendations will stop FIIs and FPIs from packing their bags In good news for foreign institutional investors (FIIs) and foreign portfolio investors (FPIs), the Indian government has accepted the recommendations of the AP Shah panel on India's minimum alternate tax (MAT).
Turbulent times ahead as UK financial sector prepares for banking surcharge Financial sector backlash against UK tax changes continues to grow as revenue figures become clearer.
