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Sam Edwards has worked as a correspondent for Reuters and Bloomberg Industry and written for The Guardian Long Read, Politico.eu, and The Nation, among others. His work has been supported by the European Centre of Journalism and the Pulitzer Center.
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Spain's Long-Delayed Global Minimum Tax Bill Passes Committee
A Spanish committee narrowly approved a bill to implement a global minimum tax rate of 15% for large multinationals, aligning with the global reform led by the Organization for Economic Development and Cooperation. The bill passed with a 20-17 vote, targeting corporations with revenues exceeding 750 million euros. The legislation is expected to be enacted by the end of the year, pending any changes in support from opposition parties.
UK Sees Value-Added Tax Receipts Rise, Registered Companies Dip
In the UK, sales tax receipts rose by nearly 6% in the fiscal year 2023-24, reaching £169 billion, despite a decline in the number of registered companies and traders. This data was reported by His Majesty’s Revenue and Customs.
UK Sees Value-Added Tax Receipts Rise, Registered Companies Dip
In the UK, sales tax receipts rose by nearly 6% in the fiscal year 2023-24, reaching £169 billion, despite a decline in the number of registered companies and traders. This data was reported by His Majesty’s Revenue and Customs, highlighting a significant increase from £160 billion in the previous year.
UK Considers Changes to Transfer Pricing Rules, Advance Pacts
The UK is contemplating revisions to its transfer pricing rules and advance pricing agreement system, as announced in the 2024 Autumn Budget. The Treasury plans to consult on requiring multinationals to report certain cross-border transactions to HMRC, with a consultation set for Spring 2025. These changes aim to enhance transparency and compliance in intercompany transactions.
Chile Seeks Feedback on Tax Amnesty, Luxury Assets Reporting
Chile's tax authority is inviting public feedback on a proposed tax amnesty for undeclared offshore assets and changes to the tax on luxury assets. These proposals are part of the recently enacted law on tax compliance, which was published in the official gazette last week.
Chile Seeks Feedback on Tax Amnesty, Luxury Assets Reporting
Chile's tax authority is inviting public feedback on a proposed tax amnesty for undeclared offshore assets and changes to the tax on luxury assets. These proposals are part of the recently enacted law on tax compliance, which was published in the official gazette last week.
Five films and TV shows about Operation Market Garden, recommended by a war historian
Operation Market Garden, marking its 80th anniversary, is remembered as a strategic failure in World War II. Conceived by Field Marshal Bernard Law Montgomery, the operation aimed to expedite the war's end by deploying the First Allied Airborne Army to capture key bridges. The article recommends films and TV shows that depict this historical event, providing insights into its execution and impact.
Chile Tax Bill Would Aid Compliance But Hike Costs
Chile's proposed reform of transfer pricing laws aims to enhance tax compliance and reduce tax avoidance, potentially increasing revenue by 1.5% of GDP to support social spending. While the reform promises greater clarity and proactive adjustments, it may also result in higher compliance costs, increased administrative work, and a heightened risk of correction notices for companies. The Senate Finance Committee is currently considering these changes as part of the government's broader fiscal strategy.
Israel to Adopt Domestic Corporate Minimum Tax Rule in 2026
Israel will implement a domestic minimum tax regime for multinational companies with a turnover of 750 million euros or more starting in 2026. This measure aims to ensure that these companies pay taxes on income generated locally, rather than in other jurisdictions, as announced by the Finance Ministry.
Chile Committee Passes Tax Compliance Bill, Awaits Chamber Vote
Chile's Senate Finance Committee has unanimously approved a bill designed to enhance tax compliance, enable anonymous whistleblowing, and allow the lifting of banking secrecy. The bill aims to generate additional revenue equivalent to 1.5% of the country's GDP to support social spending. It will now proceed to a vote in the Senate chamber.
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