Tax Authorities tagged posts

Digital Identity Coming for Scottish Taxpayers

November 16, 2017 Taxation in UK

digital identityEDINBURGH – Paying taxes in Scotland is set to become easier under the government’s project to emulate Estonia’s digital identity system.

The government of Scotland is currently researching the feasibility of implementing a digital-identity system for its taxpayers, similar to the system already in place in Estonia.

Estonia currently stores all information regarding a taxpayer digitally, with “pockets” of information being stored and encrypted in a blockchain format.

The various pieces of information can only be accessed by delegated individuals from departments or authorities related to that information.

The information in its entirety can only be viewed by the person in question, or their legal representative.

By leveraging this information collection system, the tax authorities in...

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France and Germany Keep Chasing Tech-Giants

August 28, 2017 Taxation in FranceTaxation in Germany

tech giant taxPARIS – France and Germany are stepping up their fight against tax-dodging tech-giants, despite the failures of previous moves to address the problem.

Over the weekend the Finance Minister of France Bruno Le Maire announced that the governments of France and Germany may soon reveal a new “fair contribution” tax to be levied on the profits of large multinational tech firms, such as Google and Facebook.

The exact methodology and mechanics of the new tax have not been revealed, however, the Minister did explain that tax authorities may use the revenues of the companies as a “reference point” to determine what tax level they should face in order to ensure that they are making a contribution in the countries where they generate a profit.

Large tech companies have come under fire for s...

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New Zealand Closing Tax Loopholes

August 4, 2017 Taxation in New Zealand

Taxes in New ZealandWELLINGTON – The options for multinationals trying to dodge taxes in New Zealand are numbered, as the local government proposes new measures to tackle tax dodging.

On August 4th the government of New Zealand confirmed its plans to tackle tax avoidance of multinational businesses by introducing several new anti-avoidance measures.

The government hopes to see an extra NZD 200 million in extra taxes drawn from large multinational companies.

It is expected that the focus of any changes would be targeted at tech firms, which have recently been in the international spotlight for their tax behaviours.

The proposed changes revolve around stopping international parent companies charging exorbitant interest rates to their New Zealand subsidiaries; elimination of artificial arrangements which allow c...

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Wales Asks Taxpayers What to Tax Next

July 5, 2017 Taxation in UK

Taxes in WalesCARDIFF – Wales is looking to stretch its taxation muscle and is seeking ideas from the public about what tax it should try to implement.

The Finance Secretary of Wales Mark Drakeford is calling on national taxpayers to come forward with ideas for new taxes which could be established in the country.

The Minister is said to be seeking an opportunity to test out the country’s newly devolved tax powers by potentially introducing new taxes.

It is expected that in the near future the Minister will put forward some potential taxes as ideas, with a majority of the ideas being those previously raised by the local think-tank the Bevan Foundation.

Potential candidates for new taxes so far include a tax on packaging for takeaways, sugar tax, water tax, a levy on tourism, or an innovation tax cred...

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Inactive Shell Companies Getting the Boot in India

May 1, 2017 Taxation in India

Indian National FlagNEW DELHI – Dormant companies in India are being told to registered, as authorities believe they may be being used for money laundering.

Over the weekend the Ministry of Corporate Affairs of India sent out approximately 200 000 notices to companies which claim to be inoperative, instructing the entities to close down.

The notices come as a result of the recent moves by the government to demonetise selected bank notes, as they were thought to lead to money laundering and black market activity.

The companies which received notices have not filled annual returns for several years, indicating that they did not undertake any business activity.

However, during the demonetisation process it was evident that a number of “inactive” companies were actually participating in money laundering activ...

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