Transfer Pricing Links 02/05/2014
Consultation process launched on tax system Irish Examiner (J Walsh)
“The Department of Finance is launching a consultation process to examine the way the country’s corporate tax system affects developing countries.
The initiative follows on from the publication of Ireland’s international tax strategy on budget day last October. It is an attempt to make the country’s tax dealings with emerging economies more transparent and fair.”
Dreams Of Tax Reform Forbes (C Stretch)
Terence Corcoran: How high U.S. corporate tax rates are driving Big Pharma takeovers Financial Post (T Corcoran)
F.C.’s Tax Analysts Exposes IRS Failure to Audit Major Firms FNCP.com
“Falls Church-based Tax Analysts, a nonprofit provider of federal, state, and international tax news and analysis, yesterday released an article revealing information found in a preliminary Government Accountability Office report stating that the IRS failed to audit any high-value electing large partnerships for seven years. The report also includes evidence confirming Tax Analysts’ reporting revealing that the IRS’s audit coverage of large partnerships is very low.”
Switzerland, U.S. to Discuss Tax Dodging The Wall Street Journal (A Morse)
“ZURICH— Eveline Widmer-Schlumpf, the head of Switzerland’s finance department, will meet with U.S. Attorney General Eric Holder in Washington on Friday to discuss a U.S. program designed to punish Swiss banks that may have aided American tax dodgers.“
Treaty shopping crackdown chills foreign investment Financial Post (T Bitti)
IRS chief says US powerless to stop firms’ offshore deals The Boston Globe (R Rubin, Bloomberg News)
“WASHINGTON — The US government probably can’t take regulatory action to stop companies from lowering tax bills through deals that put their legal addresses outside the country, IRS Commissioner John Koskinen said Wednesday.”
European Court Rejects British Challenge to Tax on Trading The New York Times (J Kanter)
“BRUSSELS — The top court in the European Union on Wednesday cleared a legal obstacle to a proposed tax on financial transactions, a plan bitterly opposed by bankers in London.
European Union finance ministers plan to meet early next week to discuss next steps for setting up the tax, though the British government warned it could bring a further case against the plan.”
Robert Robillard, CPA, CGA, MBA, M.Sc. Econ.
Senior Partner, DRTP Consulting Inc.
514-742-8086; robertrobillard “at” drtp.ca
www.drtp.ca
DRTP Consulting Inc. solutions go beyond transfer pricing and international tax solutions. This blog post originally appeared at rbrt.ca. The information in this blog post is general information only. Data and information come from sources believed to be reliable but complete accuracy cannot be guaranteed. DRTP Consulting Inc. or the author are not responsible or liable for any error, omission or inaccuracy in such information. Readers should seek advice and counsel from DRTP Consulting Inc. as required.