Monthly Archives: January 2016

Ex-Chancellor Lawson Calls for Business Sales Tax to Replace Corporation Tax

Lord Lawson, ex-Chancellor under Margaret Thatcher, has called for corporation tax to be replaced by a business sales tax. He told the Daily Telegraph that : “It is profoundly unsatisfactory that corporation tax has to be collected from large multinational … Continue reading

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EU Willing to Investigate HMRC Tax Deal with Google

The EU Competition Commissioner, Margrethe Vestager, has said she is willing to look at HMRC’s recent special tax deal with Google, to see if it breached competition rules, if contacted. She reportedly said that the EU could use state aid … Continue reading

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China to Broaden VAT Base

China is to broaden the economic sectors liable to VAT, moving over from business tax. In 2016 it is thought China will add services such as catering, finance and construction. Eamon McNicholas Tax Barrister, Accountant http://www.EamonMcNicholas.com

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HMRC Under Scrutiny for Google Tax Deal

HMRC’s recent special tax deal with Google is being questioned. Google’s accounts showed it made sales of £4.5 billion in the UK in 2014, with a profit rate of about 25% that’s taxable profit of around £1.1 billion to most … Continue reading

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HMRC Review VAT Groups After Larentina and Skandia Judgments

HMRC have this month issued Brief 2 of 2016 announcing their review of VAT groups following the European Court judgments in the Larentia + Marenave, C-108/14 & C-109/14 case. Eamon McNicholas Tax Barrister, Accountant http://www.EamonMcNicholas.com

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MEPs Call for Fair Share of Illegal State Aid Tax Clawed Back

The European Parliament has called for the tax advantages gained by some countries by giving sweetheart tax deal as illegal state aid should be shared among the countries that have suffered. The European Commission has launched a number of investigations … Continue reading

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New Accounting Standard IFRS 16 on Leases

  The International Accounting Standards Board (IASB) has issued a new accounting International Financial Reporting Standard on leases. IFRS 16 Leases replaces the old 17. The big change is a requirement to show operating leases on the balance sheet, to … Continue reading

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