Archive | July, 2013

What is the right tax rate for fracking in the UK

Martin Hearson has written an interesting blog on the proposed tax regime for gas produced by fracking in the UK and questioned whether it is necessary to offer the incentives for this activity. Britain’s fracking tax incentives: do they pass the test? He says: “First, will there be a published, transparent analysis of the revenue expected […]

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The Beps report – 19 July 2013 – “You don’t need a weatherman to know which way the wind blows”

Building on my comments on 15 July, I’m now going to look at what has been said. It is pleasing that my high level summary appears to have been fairly accurate. What I’m going to do today is to focus on the what (what is proposed) the when (the timetable) and the how of BEPS […]

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BEPS workplan – “what is to be done”?

July is traditionally a month for revolutionary activity, the US in 1776 and the French – twice! – in 1789 and 1830. So is July going to be a revolutionary month again in Paris in world tax policy with the anticipated publication of the Base Erosion Profit Shifting work plan this week? Well we have already seen […]

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Is the UK patent box regime fair tax competition?

At the Stockholm conference there was a bit of a spat between Theo Keijzer and Will Morris over whether the new patent box regime in the UK was fair or unfair tax competition. References were made to the three wars fought between the Dutch and the English in the 17th century between (1652 – 1654, […]

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The Boston Tea Party – a revisionist history

As the US celebrates the 4th July holiday, it often surprises me how much misunderstanding there is about the event which started the whole process of US independence – the Boston Tea Party. Most seem to believe that the Tea Party was caused by an increase in taxation by a colonial power, England. This is […]

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Why do US Companies pay so little tax on foreign profits? Does this give them a competitive advantage?

The debate continues as to why US Companies pay such low tax on their non US earnings in the press in Europe. As the following quotes are from an article in the Wall Street Journal on 1 July 2013 show the facts are fairly clear. “A government watchdog agency found that large , profitable US […]

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Responsible business: a reaction to BEPS

This post builds on some comments I have made in a number of meetings and my reflections on listening to the G8 transparency meeting, the European Commission, the OECD and various governments over the last month. As the date for the publication of the BEPS workplan approaches Business needs to think about its response. It […]

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Financial Transaction Tax – were business concerns correct?

Back in 2012, two international business organisations came together to explain their concerns with and opposition to the newly proposed Financial Transaction Tax (FTT), those organisations were Business Europe and BIAC. Their concerns were as follows: “So why is Business so concerned about an FTT? The reasons are many but principally the concern is that […]

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