Tax-News.com: Business News

Tax-News.com: Business News

Global tax news, continuously updated through the day.
  1. New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world.
  2. Singapore is to add provisions to draft legislation to enhance the new GST regime for imported services and clarify new rules for virtual currencies.
  3. The OECD has released guidance on new information reporting obligations for territories that levy no or only nominal rates of corporate tax, as part of its work on BEPS Action 5, covering harmful tax practices.
  4. On October 9, 2019, the British Virgin Islands International Tax Authority has finalized rules governing the application of the territory's new economic substance requirements, which became effective from January 1, 2019.
  5. Members of the European Parliament (MEPs) have called on EU member states to agree proposals that would require the public disclosure of country-by-country (CbC) reports, to reveal the taxes paid by multinationals.
  6. On October 23, 2019, the Commissioner of the South African Revenue Service launched the re-established Large Business Centre, which aims to bring about higher levels of voluntary tax compliance among large taxpayers.
  7. Chile's tax agency on October 21, 2019, announced that it will waive penalties, interest, and surcharges for value-added taxpayers who file September 2019's monthly return by the end of the month.
  8. Airbnb has disclosed that it has been contacted by HM Revenue and Customs regarding the application of tax laws or regulations impacting the company's business, adding that some matters "may result in litigation".
  9. The Irish Government has published its 2019 Finance Bill, which introduces changes to a number of SME-targeted tax incentives and implements a range of measures announced in this month's Budget.
  10. HM Revenue and Customs (HMRC) has automatically registered 95,000 businesses for its simplified import procedures, allowing most UK traders up to six months to pay import duties and submit customs declarations, if the UK leaves the EU without a deal on October 31, 2019.