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International Tax »

US Tax Code Hearing Centers On Corporate Inversions

While there was mention of such problems as base erosion and profit shifting, and of the merits of territorial against worldwide taxation, the overriding issue during the Senate Finance Committee's July 22 hearing on the United States international tax code, was, as expected, how and when to stop the rising trend of "corporate inversions." Continue Reading »

International Law »

US Senate Bill Lumps Online Sales Tax With Internet Moratorium

With the United States House of Representatives having recently passed the Permanent Internet Tax Freedom Act that would permanently extend a moratorium on internet access taxation, but with the more controversial Marketplace Fairness Act, which would allow states to impose sales taxes on online purchases, stuck in its Judiciary Committee, certain lawmakers have had the idea of linking the two into one bill in the Senate. Continue Reading »

Politics & Economics »

NZ Opposition Pledges To Remove GST On Food

The New Zealand First party has released a party manifesto, setting out its tax policies ahead of September's election. Continue Reading »

Offshore »

Irish Pharmaceutical Firm Shire In USD55bn Merger

US-based pharmaceuticals giant AbbVie plans to merge with the Dublin-headquartered Shire in a USD55bn deal that is expected to reduce the group's effective tax rate to 13 percent. Continue Reading »

Business »

South African Tax Authority Tasked For 2014/15

Within his speech to parliament during the Budget Vote on July 21, South Africa's Deputy Minister of Finance, Mcebisi Hubert Jonas, explained the National Treasury's take on the strategic work expected from the South African Revenue Service and the Financial Intelligence Centre during the 2014/15 fiscal year. Continue Reading »

E-Commerce »

House Passes Permanent US Internet Tax Moratorium

On July 15, by a voice vote, the United States House of Representatives passed the Permanent Internet Tax Freedom Act, which would permanently extend the Internet Tax Freedom Act and avert a possible tax increase on internet access later this year. Continue Reading »

Aviation »

Egypt Confirms USD25 Airport Departure Tax

Egypt has confirmed that it is adding a USD25 airport departure tax to flight fares to boost revenue for the cash-strapped state. Continue Reading »

Marine »

Philippine Bill Extends Shipping Income Tax Exemption

With the Philippine Overseas Shipping Development Act expiring this year, a bill has been introduced into the House of Representatives, seeking to extend the expiring income tax exemption granted to the country's shipping industry. Continue Reading »

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