Archive for the ‘Uncategorized’ Category

Following the series of stories emerging from the ‘Paradise Papers’ has been like unpacking a Christmas stocking. While each individual item may be underwhelming in itself, the overall effect is designed to be thrilling. The ICIJ say that the parade of cases that they have profiled are ones that ‘expose significant failures and weaknesses inside […]


Action 13 of Action Plan on Base Erosion and Profit Shifting (BEPS), calls for multinational groups with revenues over 750 million Euros, to produce a ‘country by country report’ (CBCR) detailing their profits earned and taxes paid, in each country of operation. The aims is for revenue authorities to use this information as a risk […]


Reprinted with permission from Tax Journal. (PDF version)  Reckitt Benckiser (RB), maker of household products from condoms to stain removers, is the latest company to come under fire for tax avoidance. Oxfam published a report on 13 July, saying the company has been ‘making tax vanish’ by shifting profits to its regional hubs in the […]


In the Guardian yesterday Eliza Anyangwe said that Africa loses more than three times the amount it gets in aid “mainly by multinational companies deliberately misreporting the value of their imports or exports to reduce tax”. This statement is not true, but it is a reasonable summary of what a report called ‘Honest Accounts‘, which was published last […]


Yesterday the Guardian reported that Labour plans clampdown on ‘sweetheart deals’ to close £36bn tax gap “Shadow chancellor John McDonnell said if Labour wins the next general election it would “close the loopholes through which large corporations swindle the public”. He said the “tax gap” between what companies should be paying and what is actually received […]


This article appeared in Tax Analysts  (Pdf to download) Starting this year, large multinational companies will file their first country-by-country (CbC) reports with information on sales, profits, number of employees, and taxes paid for their entities in each jurisdiction where they operate. Businesses are also increasingly recognizing that tax is a reputational issue and are publishing […]


(This article is republished with permission from Tax Journal – download it as a pdf) Starting this year large companies operating in the UK are required to publish an annual statement explaining their tax strategy. The new rules apply to UK companies, partnerships and groups with a turnover above £200m or a balance sheet over £2bn. It will […]