This page contains a Flash digital edition of a book.
GLOBAL NEWS AND VIEWS Industry news


UNITED KINGDOM HMRC BEGINS NAMING AND SHAMING EVADERS


HMRC has for the first time used powers introduced in the Finance Act 2009 to publish the names and offences of ‘deliberate tax defaulters’. The first nine targets include a hairdresser, a knitwear maker, a plumber and a corner shop grocer, all of whom were found to have evaded at least GBP25,000 of various forms of tax.


INTERNATIONAL GOVERNMENTS CALL FOR


increasingly being tied up in intangibles such as brand and intellectual property, which do not observe country borders. The announcement at the G20 conference came soon after publication of a report by the OECD, claiming that multinational firms are using tax planning strategies that erode the tax base of many countries and threaten the stability of the


MEXICO DEADLINE SET FOR


TAX AMNESTY The Mexican government has set a 31 May deadline for applications to use the tax amnesty previously announced in the 2013 Federal Revenue Law. Taxpayers applying to use it must withdraw any challenge or appeal they have filed against the tax assessment in question.


TRANSFER PRICING REFORM FINANCE MINISTERS of France, Germany and the UK are urging reform of the taxation of international companies, to limit multinational groups’ use of profit-shifting to reduce taxes. Transfer pricing is their principal target. UK Chancellor George Osborne said the rules had not kept pace with the global changing economy, with the value of companies


SWITZERLAND/UK SWISS BANKS MAKE UP-FRONT TAX


international tax system. Existing rules designed to protect multinational corporations from paying double taxation too often allow them to pay no taxes at all, says the report. OECD Secretary-


General Angel Gurría said the organisation is drawing up an action plan to address the problems, to be put to the OECD’s Committee on Fiscal Affairs at its next meeting in June.


UNITED KINGDOM IHT NIL RATE BAND TO BE FROZEN UNTIL 2019


HM TREASURY has dropped its plan to increase the inheritance tax nil rate band by 1 per cent in the 2015- 16 tax year. The nil rate band will instead be


frozen for several years beyond the already announced date of April 2015, probably until 2019, to help pay for the government’s strategy for funding long- term elderly care.


UNITED KINGDOM


PAYMENT TO UK THE SWISS Federal Tax Administration has handedCHF500million (GBP342 million) of Swiss banks’ money to the UK tax authorities, as a first payment on account to cover untaxed assets of UK taxpayers. The advance is a condition of the UK-Swiss bilateral withholding tax agreement that came into force on 1 January.


QC 2013–14 APPLICATIONS OPEN THE QUEEN’S Counsel Selection Panel is inviting applications for appointment as Queen’s Counsel in2014fromsuitably qualified practitioners. Applications opened on 6 March 2013; the application form and guidance for applicants can be downloaded from www.qcappointments.org The deadline for applications is 5pm on Wednesday 17 April 2013. Applications after that date and time will not be accepted. The outcome of applications is likely to beannouncedin early2014. The scheme is entirely self- financing. To cover the costs


16 APRIL 2013


of the process, applicants have to pay an application fee of GBP1,950 (plusVAT). There is a further appointment fee of GBP3,500 (plus VAT) for successful applicants only. The panel welcomes applications from groups that are under- represented in Silk, including women, members of ethnic minorities and people with disabilities. It also welcomes applications from solicitor- advocates and employed advocates. For further information,


call 020 7831 0020 or email enquiries@qcapplications.org.uk


WWW.STEPJOURNAL.ORG


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84