How does a UK company manage to earn £84 billion in one deal without paying any tax? It is the question many people are asking after Vodafone sold off its stake in US telecoms company Verizon Wireless…
Restoring the tax break for married couples has long been a Conservative Party commitment, and one they now intend to pursue this autumn. The outgoing Chief Rabbi, Lord Sacks, has now – from a non-party…
Serious about capitalising on shale gas.
HM Treasury
Last week, Chancellor George Osborne announced a 30% tax rate on shale gas production. Representing a 32% reduction on the standard rate for oil and gas companies, the move is the latest in a series of…
Companies can keep on ducking tax, despite what the OECD says.
Yahoo! Inc
The long awaited report on combating corporate tax avoidance by the OECD sadly has to deal with a corporate tax system which is unfit for purpose. It is a follow-up to the G8 meeting last month in Ireland…
Thumbs up if you want a fair tax system.
Jonathan Porter / Oxfam
When the leaders of the world’s most powerful economies gather in Northern Ireland on Monday, one issue will overshadow all others: tax. For years the matter of how global corporations engage with offshore…
Amid the “cash for causes” scandal currently unfolding in parliament, and the criticism of David Cameron’s “chumocracy” of elites at number 10, it’s worth remembering that degree to which politics is dominated…
The business community was effectively sidelined at the last federal election, and they felt somewhat miffed about it. Business associations were caught flat-footed at the suddenness of Julia Gillard’s…
Beer taxes played an integral part in establishing Belgian territory.
Flickr\ ee b b
Around the world, Belgium is famous for its beers and its brewing tradition. However, there is another link between beer and Belgium: historically, the country owes its very existence to beer. Surprisingly…
Federal treasurer Wayne Swan welcomed the report.
AAP Image/Alan Porritt
Australia’s robust economy makes it the “Iron Man” of the developed world but the government should hike the GST rate and apply it more broadly, according to a new OECD report released today. “Tax reforms…
State premiers preparing to gather at COAG on Friday have been disappointed by the GST Review.
As Prime Minister Julia Gillard prepares to meet with state premiers at Friday’s COAG meeting, the elephant in the room will be the Independent GST Review, released by Treasurer Wayne Swan last week. The…
Warnings of a drop in Australia’s real GDP per capita - a measure of living standards - still provide a stark contrast to Greece, where the real GDP per capita is likely to be 25% lower in 2013 than in 2008.
AAP
Last week, the Organisation for Economic Cooperation and Development (OECD) in a preliminary version of its 2012 Economic Outlook lowered its growth forecasts for Australia from 3.7% to 3.0% in 2013. This…
Chris Jordan will start in his role as Australia’s Federal Tax Commissioner in January 2013.
AAP
In January 2013, Mr Chris Jordan AO starts as Federal Commissioner of Taxation in charge of the Australian Taxation Office (ATO). He follows Mr Michael D’Ascenzo AO, who was not reappointed after his seven-year…
Resolving the US’ fiscal cliff through taxation reform will prove challenging for the President.
AAP
When President Obama took office in 2008, there was little time for rest or reflection. The economy was in freefall and immediate action was required. This time around, the situation is not so dire. But…
Former California governor Arnold Schwarzenegger was reduced to issuing IOUs to pay the state’s bills.
Long after President Obama’s re-election was secure, another election day result came in, one that may be of comparable significance in the long run. By a 54-46 margin, Californian voters approved Proposition…
The NSW Auditor-General has revealed discrepancies totalling $1 billion in Barry O'Farrell’s coalition June budget.
New South Wales taxpayers could well be wondering whether the news that the state’s finances are in surplus - rather than deficit - is good news or bad. The state’s Auditor-General Peter Achterstaat has…
Tax reform or trickery? Treasurer Wayne Swan’s plan for businesses to pay a monthly tax bill instead of a quarterly one has been met with acrimony from the business community.
AAP
One of the more contentious issues in the 2012-13 Mid-Year Economic and Fiscal Outlook (MYEFO) is a tax-timing change. Corporate income tax will be paid monthly instead of quarterly for very large corporations…
Mitt Romney has said that 47% of households pay no federal income tax, but something about the statement doesn’t add up.
AAP
Republican presidential nominee Mitt Romney’s comment that 47% of households pay no federal income tax is true. (It’s actually closer to 46%.) But when you dig beneath the bumper-sticker headline, his…
Cuts to the R&D tax incentives for Australian businesses - as proposed by the Business Tax Working Group - have significant implications for our future economic wellbeing.
Image from www.shutterstock.com
The Business Tax Working Group discussion paper’s suggestion to reduce the R&D tax incentive reveals a clear-cut attitude to policy aimed at Australia’s economic development: “It’s all about the tax…