Lowtax Jurisdictions

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St. Vincent & The Grenadines
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United Kingdom
United States
Vanuatu

Stories that are tagged 'controlled foreign corporations (CFC)'

	NZ Parliament Passes International Tax Amendments 5/4/2012 The Taxation (International Investment and Remedial Matters) Bill, introduced in October 2010 to reform taxation on the gains of New Zealand residents from their investments in overseas entities, has passed its final stages in Parliament.
	India Reassures US On Retrospective Tax Plans 4/24/2012 India's Finance Minister Shri Pranab Mukherjee has defended plans for retrospective tax legislation, telling the US Secretary of the Treasury that the proposals merely clarify the intent of current laws.
	Vodafone Challenges Indian Tax Law 4/23/2012 The ongoing tax dispute between India and Vodafone has erupted again, with the telecoms company now serving a Notice of Dispute against the government's controversial new retrospective tax legislation.
	No New Taxes In Budget For Canadians 3/30/2012 The Canadian government has left tax rates on hold for another year in the 2012 Budget, announced by Finance Minister Jim Flaherty on March 29.
	UK Legislates For Budget Tax Measures 4/2/2012 The UK government has published Finance Bill 2012, which legislates for tax measures included in both the 2012 and 2011 Budgets.
	OECD Forum To Simplify Transfer Pricing Rules 3/30/2012 Meeting at the first Organization for Economic Cooperation and Development Global Forum on Transfer Pricing, tax officials from 90 countries agreed on the need to simplify transfer pricing rules, strengthen the guidelines on intangible issues and improve the efficiency of dispute resolution.
	Australia To Amend Transfer Pricing Regime 3/21/2012 The Australian government has released draft proposals that will launch the first stage of its reform of the transfer pricing system.
	India Likely To Change Tax Law After Vodafone Case 2/6/2012 The Indian government is planning to include additional provisions in the forthcoming Direct Taxes Code in an attempt to avoid future court clashes with multinational companies like Vodafone.
	Tax Dispute Delays Ugandan Oil Stake Sales 2/2/2012 Tullow Oil’s sale of stakes in its Ugandan oilfields to Total of France and the China National Offshore Oil Corporation has been further delayed by the Ugandan government, following a dispute over tax compensation arrangements.
	Vale Scores Victory In Brazilian Tax Appeal 2/1/2012 Vale, the world's second largest mining company has won an injunction in a long-running court battle against the Brazilian tax authority relating to claims for billions of dollars in back taxes said to be due on its foreign-sourced income.
	Vodafone Wins Indian Tax Dispute 1/25/2012 India’s Supreme Court has ruled that Vodafone Group Plc is not liable for a USD2.2bn bill in back taxes and penalties after the USD11.2bn acquisition of Indian mobile phone company Hutchinson Essar in 2007.
	France, Germany To Act Swiftly On Tax Convergence 1/20/2012 France and Germany have pledged to put forward concrete proposals for a common corporate tax base by the end of February, in a joint document outlining their strategy for exiting the crisis and for strengthening growth.
	Obama's Job Council Recommends Tax Reform 1/20/2012 President Barack Obama's Council on Jobs and Competitiveness, set up a year ago, has presented its 72-page report, including recommendations to create a simpler, more efficient tax system that 'levels the playing field for businesses and makes the US more competitive internationally'.
	Obama To Propose 'Insourcing' Tax Breaks 1/13/2012 United States President Barack Obama has announced that he will put forward new tax proposals in the coming weeks designed to reward companies that choose to invest or bring back jobs to the United States, and to eliminate tax advantages for companies moving jobs overseas.
	CFCs To Benefit From New UK Tax Regime 12/8/2011 A major overhaul of the UK's controlled foreign company rules has been welcomed by tax experts, who conclude that the proposed new regime will go a long way towards changing the negative perceptions of the UK's corporate tax regime among multinational businesses.
	Brazilian Court Dismisses Vale's Tax Appeal 12/5/2011 The world's second largest mining company, Vale has been unsuccessful in appealing back taxes said to be due on its foreign-sourced income.
	OECD Reviews Transfer Pricing Rules On Intangibles 11/21/2011 The Organization for Economic Cooperation and Development has noted the progress made by its Working Party and private sector representatives on definitional and ownership issues related to transfer pricing for intangibles as defined by the OECD Transfer Pricing Guidelines.
	US Congress Mulls Territorial Corporate Taxation 10/28/2011 The House of Representatives Ways and Means Committee Chairman, Dave Camp (R - Michigan) has unveiled more details of his party’s plan for United States international tax reform that would move to a territorial tax system.
	Canada Clarifies Corporate E-File Rules 10/14/2011 Proposed changes to Canada's Income Tax Regulations will mean that specified businesses must comply with mandatory electronic filing requirements for their tax returns.
	Reports Reject US Foreign Profits Tax Holiday 10/7/2011 Two new studies, from both sides of the political spectrum, have denied that, if a tax break for United States companies repatriating profits from their overseas operations was to be re-instated, additional investment and jobs would be created in the American economy.
	Canada To Update Foreign Affiliate Rules 8/23/2011 The Canadian government has launched a consultation on proposals to reform rules for the taxation of Canadian multinational corporations with foreign affiliates.
	Virgin Considers Swiss Tax Move 7/29/2011 In a tax-blow to the UK exchequer, the Virgin Group is planning to shift a portion of its operations to Switzerland to maximize tax efficiency.
	UK CFC Reforms Endorsed 7/28/2011 The Bermuda-based insurance firm Lancashire Holdings is to move its tax base to the UK in order to benefit from planned changes to the UK's Controlled Foreign Company rules.
	UK Releases New CFC Rules 7/4/2011 As part of its ongoing overhaul of the tax system, the UK government has published its proposals for the reform of the Controlled Foreign Company regime.
	UK CFC Rules Still Break EU Law 5/23/2011 The UK must amend its legislation on the tax treatment of controlled foreign companies, as it fails to fulfil European Union Treaty obligations or adequately take into account relevant court rulings, the European Commission has said.
	UBM Considering Return To UK 4/22/2011 United Business Media could relocate back to the UK in the coming months, its chief financial officer has hinted.
	IRS Data Shows Fall In Taxable Returns 4/13/2011 The United States Internal Revenue Service has issued its Statistics of Income Winter Bulletin, which shows a fall in the level of individual returns where tax was due, but a sharp rise in multinationals' profits.
	India Relaxes FDI Rules 4/6/2011 India's Commerce Ministry has relaxed rules governing foreign direct investment after more than 15 years, so that foreign companies can establish fully-owned subsidiaries in India without having to gain the permission of their Indian partners.
	Germany Plans Cross-Border Loss Relief 4/6/2011 Bowing to pressure from the European Commission, the German government is believed to be planning to introduce a new tax break, designed to reduce the burden on German companies by enabling losses incurred by subsidiary companies established abroad to be offset against the profits of the parent company based in Germany.
	Osborne Unveils Pro-Business UK Budget 3/25/2011 Chancellor of the Exchequer George Osborne has delivered a Budget of surprises and reforms, designed to accelerate the process of reforming the UK economy, and achieve a new model of sustainable and balanced growth, with a renewed emphasis on enterprise.
	CBI Praises UK Rate Cut 2/24/2011 The Confederation of British Industry has welcomed the UK Government's commitment to a phased reduction of corporation tax.
	Australia Aims To Attract More Foreign Regional Headquarters 2/23/2011 The Gillard Government is hoping to attract more investment by encouraging foreign-based companies to establish regional headquarters in Australia, as well as making Australian businesses with foreign operations more competitive.
	UK Unveils Corporate Tax Reform 12/1/2010 UK Chancellor George Osborne has announced details of the government's Corporate Tax Reform Program.
	Top UK Businesses Welcome CFC Reform Progress 11/26/2010 PwC, in anticipation of the release of the government’s discussion document on corporate tax and controlled foreign company reform, has surveyed over 60 leading UK businesses.
	UK Commits To Better Tax Policy 11/12/2010 A senior UK Treasury minister has confirmed that the government will publish draft clauses for Finance Bill 2011 next month as part of the government’s commitment to improving tax policy making.
	Vodafone Hits Back At Tax Protesters 11/2/2010 UK mobile phone company Vodafone has dismissed suggestions that it avoided billions of pounds in tax relating to its takeover of German telecoms company Mannesman in 2000.
	Senate Kills Anti-Offshoring Bill 9/30/2010 A bill which proposed a payroll tax holiday to companies hiring American workers to replace those at a foreign-based operation whilst removing tax breaks from those companies moving operations abroad has been voted down by the Senate.
	UK To Forge Ahead With Corporate Tax Reform 9/22/2010 Mark Hoban, the Financial Secretary to the UK Treasury, confirmed in a speech on September 20 the government's desire to move the country towards a more territorial system of corporate taxation.
	Obama Signs International Tax Hikes 8/12/2010 US President Barack Obama has welcomed the approval by Congress of measures that would discourage US companies from 'shipping jobs overseas' although Republicans are warning that the bill is yet another example of the Obama administration's anti-business policies which will ultimately stifle economic growth.
	US Business Fears International Tax Bill 8/11/2010 US business groups have criticized the Senate's approval of a bill which proposes to tighten international tax rules with the intention of curbing what Democrats consider as large scale corporate tax avoidance.
	IRS Strengthens Focus On International Tax Compliance 8/6/2010 The US Internal Revenue Service has announced the realignment of its large and mid-size business division to create a more centralized organization dedicated to improving international tax compliance.
	US To Close Foreign Tax Credit Loopholes 8/2/2010 A package of legislative proposals designed to tighten US foreign tax credit rules has been introduced in the House of Representatives as part of a bill to extend certain Recovery Act provisions.
	CIOT Welcomes UK Tax Review 7/29/2010 The President of the Chartered Institute of Taxation, Vincent Oratore has on behalf of the body welcomed the government’s publication of nine discussion and consultation documents relating to tax.
	UK Launches Raft Of Tax Consultations 7/28/2010 Exchequer Secretary to the Treasury, David Gauke, has published nine documents for discussion and consultation relating to tax, following commitments made at the June budget.
	Australia Consults On CFC Rules 7/19/2010 Australia’s Assistant Treasurer, Nick Sherry, has released for public comment a discussion paper that represents a further step towards reforming controlled foreign company rules.
	HMRC Publishes Tax Consultations 7/6/2010 The UK tax authority, HM Revenue and Customs, has published details of the tax consultations announced by the Chancellor in the emergency budget.
	Switzerland Improves Group Financing Conditions 6/24/2010 In a bid to improve the Swiss financial centre and to create jobs in Switzerland in the area of internal group financing activities, interest paid out between companies of the same group will in future be exempt from withholding tax and stamp duty.
	India Tax Treaty Overrides To Be More Limited 6/21/2010 The Indian Central Board of Direct Taxes has softened its stance on tax treaty overrides in the latest draft of the Direct Tax Code, which is published for consultation until the end of the month. Overrides would apply when General Anti Avoidance Rule or Controlled Foreign Corporation provisions are invoked. Such provisions were also overhauled in the latest draft.
	UK CFC Regime Must Not Burden Business 4/21/2010 The Institute of Directors has urged the UK government to tread with care over how it implements new controlled foreign companies regime proposals, which, it warns, could have a major bearing on UK tax competitiveness.

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