Valsen Corporate

Archive for September 27th, 2017

Brexit: Theresa May ‘to offer 20bn euros transitional deal’

Theresa May is set to propose a transitional deal with the EU of up to two years.The PM is also expected to make an “open and generous” offer, potentially worth 20bn euros over the two years. It would mean the EU does not have to unpick its current budget – so no other EU member […]

China’s credit rating downgraded by S&P

China’s credit rating has been downgraded by Standard & Poor’s (S&P) because of worries over the rapid buildup of debt in the country. S&P cut China’s rating by one notch from AA- to A+, saying its debts had raised “economic and financial risks“. The International Monetary Fund warned in August that China’s credit growth was on a […]

Estonian Presidency to Present the Boldest Plan to Date against Tax Avoidance

The EU 28 financial ministers are set to discuss taxation of multinational digital platforms in Tallin on September 15-16, Reuters reports. Companies such as Amazon and Google have designed tax plans that reduce their tax liability in countries they operate. The proposal put forward by the Estonian Presidency proposes to shift the tax burden from […]

Denmark plans to cut world’s highest taxes to ease worker shortage

Denmark thinks it has found a way to prevent a worker shortage from damaging its economy. The proposed solution for worker shortage? Tax cuts. The world’s most taxed country is planning on sweeping cuts to levies on cars and pensions that are designed to encourage people to work more. Denmark has the highest tax to […]

Australia Making Inroads on Tackling MNE Corporate Tax Avoidance

Kelly O’Dwyer, Australia’s Minister for Revenue and Financial Services, has stressed that the Government has taken and will continue to take steps to tackle corporate tax avoidance by large businesses. Speaking to Sunrise’s David Koch on August 23, 2017, the Minister said: “We absolutely believe very strongly that you cannot choose how much tax you […]

Anti-Tax Avoidance Measures Under Fire from Employers, Tax Advisors; Corporate Tax Systems

Changes to the corporate tax system may make the Netherlands a less attractive location for international business. The employers and Dutch Order of Tax Advisors say the government is choosing the wrong parts of a European directive to tackle tax avoidance to incorporate into domestic law. They made their comments in response to the online […]

Mauritius Denies Plans to Renegotiate DTA with India

Mauritius’s Ministry of Finance has denied that there are plans for a renegotiation of the jurisdiction’s double tax agreement with India in the near future. The Ministry stated: Further to press articles alleging that Mauritius and India are to begin a fresh round of negotiations to amend the Double Taxation Avoidance Convention, the Ministry of […]

IRS signs contract to track bitcoin companies

The Internal Revenue Service has signed a contract with a company called Chainalysis that offers software for analyzing and tracking bitcoin companies. The IRS has been pushing for ways to tax bitcoin companies. In 2014, it issued basic guidance in Notice 2014-21 stating that virtual currencies such as bitcoin should be treated as property rather than currency […]

Ireland awarded high OECD rating on tax transparency

Top ‘compliant’ rating given to Ireland, Norway and Mauritius Ireland has received one of the highest international ratings on tax transparency from the OECD. The organisation’s Global Forum on Transparency and Exchange of Information is part of the implementation of the common reporting standards in the wake of the global clampdown on multinational tax avoidance. […]

Investors would rather register a company in Mauritius than South Africa

Despite a larger economy and a much bigger population, South Africa’s political uncertainty and failure to draw cost-sensitive investors has given way for the rise of Mauritius as the top investment destination in Africa to register a company.   Speaking to CNBC Africa, Bravura’s executive director, Soria Hay, said Mauritius is fast-gaining the reputation among […]