The latest tax news and analysis from KPMG's Global Tax practice
|
| 4/23/2013 | Financial institutions in the European Union will soon have to begin country-by-country reporting of tax payments made to governments, and will also have to comply with stronger bank solvency and liquidity requirements and a cap on bankers' bonuses. |
| 4/23/2013 | Financial institutions have an opportunity to review and provide comments on a draft registration-process form for the U.S. Foreign Account Tax Compliance Act (FATCA). |
| 4/23/2013 | The OECD's recently released report "Aggressive Tax Planning based on After-Tax Hedging" describes the features of aggressive tax planning schemes based on after-tax hedging as well as strategies used by countries to detect and respond to those schemes. |
| 4/16/2013 | The OECD has released its annual report on the caseloads of all its member countries under the Mutual Agreement Procedure (MAP) for resolving cross-border tax disputes. |
| 4/16/2013 | The U.K. has announced an agreement with France, Germany, Italy, and Spain to develop and pilot a multilateral tax information exchange process. |
| 4/16/2013 | The Department of Finance announced that Canada signed a new Tax Information Exchange Agreement (TIEA) with Liechtenstein on January 31, 2013. |
| 4/2/2013 | June 30, 2013 is an important date for Canadian business that may be eligible to recover value-added tax (VAT) paid to many European Union (EU) member countries. |
| 3/26/2013 | The United Kingdom delivered its 2013 budget on March 20, 2013. |
| 3/26/2013 | The 2013 federal budget included several changes to tariffs and other customs measures that may affect taxpayers who import goods into Canada. |
| 3/12/2013 | India delivered its 2013-14 budget on February 28, 2013. |
| 3/12/2013 | India has proposed a new Companies Bill for all companies meeting prescribed criteria that will require companies to contribute 2% of their average net profits from the previous three years as part of new corporate social responsibility measures. |
| 3/12/2013 | Business shipping across the Canada-U.S. border may experience delays due to new U.S. budget cuts. |
| 3/5/2013 | KPMG Global has created a new resource centre to track the introduction of the financial transaction tax (FTT), a European transactions tax that is proposed to be levied on financial institutions carrying out transactions in securities and derivatives. |
| 2/18/2013 | The Organisation for Economic Co-operation and Development (OECD) has released a major study paper, |
| 2/11/2013 | Finance has announced that Canada signed a new Tax Information Exchange Agreement (TIEA) with Uruguay on February 5, 2013. |
| 2/4/2013 | The CRA has now officially confirmed that it will administratively accept the old version of the foreign affiliate information reporting Form T1134 series (i.e., old Forms T1134A and T1134B) until June 30, 2013. |
| 2/4/2013 | The CRA has released details of its new administrative relief for certain non-resident employees who attend a conference in Canada as part of the duties of their employment. |
| 2/4/2013 | Finance has announced that Canada signed a new Tax Information Exchange Agreement (TIEA) with Liechtenstein on January 31, 2013. |
| 1/21/2013 | The U.S. Treasury Department and the IRS have released the final Foreign Account Tax Compliance Act (FATCA) provisions. |
| 1/7/2013 | U.S. President Obama signed the American Tax Relief Act of 2012 (the Act) on January 2, 2013 to avert the much publicized "fiscal cliff" of tax increases and spending cuts (the latter is deferred to March 2013). |
| 1/7/2013 | The CRA has released new Form T1134 which combines both the previous Forms T1134A and T1134B. |
|
|
|
| 2/13/2012 | The OECD has released its annual report on the caseloads of all its member countries under the Mutual Agreement Procedure (MAP) for resolving cross-border tax disputes. |
| 12/19/2011 | The Hungary-United Kingdom income and capital gains tax treaty, signed in Budapest on September 7, 2011, will enter into force on December 28, 2011.0 |
| 12/12/2011 | The IRS has provided relief and guidance for U.S. citizens or dual citizens residing outside the United States who did not file a required U.S tax return or Report of Foreign Bank and Financial Accounts (FBAR) by December 7, 2011.
|
| 12/12/2011 | The CRA recently released its Advance Pricing Arrangement Program Report for 2010-2011. |
| 12/5/2011 | Negotiations to update the income tax treaty between Canada and Israel will commence the week of January 9, 2012, according to a news release Finance issued. |
| 12/5/2011 | The Canada-Italy tax treaty entered into force on November 25, 2011. |
| 12/5/2011 | Finance has announced that its Tax Information Exchange Agreement (TIEA) with the Turks and Caicos Islands came into force on October 6, 2011. |
| 12/1/2011 | Senior officials from the Department of Finance and the CRA made some important announcements on a broad range of topics at the Canadian Tax Foundation’s 2011 Annual Conference in Montreal earlier this week. |
| 11/28/2011 | Finance has announced that its Tax Information Exchange Agreement (TIEA) with St. Kitts and Nevis came into force on November 21, 2011. |
| 11/21/2011 | Canada and Barbados signed a Protocol to their current income tax treaty on November 8, 2011. |
|
|
|