Ireland could see the balance of its taxation system reshuffled, creating new taxes and diminishing those already established. Ireland may soon see a restructuring of its taxation system, if suggestions by Ireland's Commission on Taxation to the Government are accepted. The Commission, which was created in 2008 to examine Ireland's taxation structure, is expected to release a report by the 28th of August with its recommended taxation changes. The report will feature 250 recommendations to the Irish government. Key changes within the report ... Read More

Irish airline Ryanair has called for the scrapping of the Government's €10 travel tax. Ryanair has called for the abolishment of the Irish government's €10 travel tax. According to Ryanair statements, passenger throughput at Dublin Airport fell by 10% in the month of July, equating to a 215,000 passenger drop in one moth. Throughout May the incoming passenger numbers fell by 18%, or approximately 150,000 visitors. Ryanair places blame for these repeated falls on the government's travel tax. Stephen MacNamara, Communications Chief for Ryanair, ... Read More

Indications to possible outcomes of the current Australian tax review were given on the 20th of August by Ken Henry, Australian Treasury Secretary. In his speech to the Australian Industry Group, Ken Henry gave indications as to the direction of some changes to the Australian taxation system that will take as a result of its current review procedure. Significant attention was given to the concept of changing Australia’s future taxation system to maximize its efficiency and improve incentives for investment. The ... Read More

The US Senate and the Swiss bank UBS, have revealed details of their tax evasion case agreement. An end has come to the long running legal dispute between the Inland Revenue Service (IRS) and UBS, an agreement has been reached, the details of which have now been revealed. The data behind 4,450 accounts held by US residents with UBS will be handed over to the IRS, all connected with tax evasion suspicions. Current IRS valuations of assets held in the accounts are at ... Read More

The European Union has called for steps to be taken by its member states in order to fight Value Added Tax fraud. In an effort to reduce Value Added Tax (VAT) fraud, the European Union has urged its member states to increase inter-jurisdiction cooperation. In an effort to foster this, the European Commission has proposed a new set of protocols under which information can be shared between countries within the European Union. The primary development in the proposition is the establishment of Eurofisc. ... Read More