Argentina steps up restrictions in currency trading in a bid to regulate markets
Since the turn of the century, Argentine officials have increasingly modified foreign exchange controls to allow the nation greater management of how its currency is traded in the world market. In October of this year, a new round of restrictions were put...
Herman Cain – reportedly accused of “unwanted sexual advances” – has posed what many consider to be an outlandish tax proposal
With an election year looming in the United States, a number of candidates are seeking to secure the support of the country’s two main political parties. One of the contenders for the Republican nomination, Herman Cain, is placing a great deal of em...
Taxing becomes more competitive as nations try to attract wealthier individuals and corporations
Taxes are a reality in almost every nation around the world. At times, trying to work through the convoluted local, state and national taxes that are chargeable on everything from household items to income can be extremely intimidating. When it comes to i...
As Rick Perry tries to remember his lines, World Finance considers the idea of a flat tax structure
With the idea of a flat tax structure figuring in the campaigns of two presidential hopefuls for the Republican nomination, many people around the US are once again considering what an overhaul of the current federal tax system could bring, good and bad. ...
After years of promises, the long-abused Russian transfer pricing rules have been updated to reflect modern international practice.
Evgenia Veter and Anna Johnson explore the new legislation
It’s been more than two years since the Russian government promised to align the country’s economy with global trends and introduce transfer pricing reform. In July 2011, Russia finally adopted new transfer pricing rules, bringing the country&...
All over the world, taxpayers, and the bank secrecy which was supposed to protect them, are being attacked by increasingly intrusive governments
Be it on a global or European level – this latter in the name of a dubious intention to eliminate any tax competition between EU countries – states are continuing their efforts to eliminate any form of bank secrecy.If the European Savings Guid...
Brazil has taken a major step in automating its fiscal and tax system, writes João Alfredo Branco
By creating the Electronic Invoice (NF-e), which, along with Digital Tax Bookkeeping (“Tax SPED”) and Digital Bookkeeping (“Accounting SPED”), automation is a pillar of the Public Digital Bookkeeping System (SPED). Implemented in September 2006...
László Kovács, EU Commissioner for the taxation and customs union, reviews new and revised tax legislation/policy and its implications for international companies
Commission’s policy with regard to taxation is an integral part of its comprehensive strategy to create more growth and jobs in the EU and to boost the competitiveness of EU companies. We want to make Europe a more attractive place to invest and work by...
Paul Mulvihill, Transfer Pricing Partner at Ernst & Young – Canada and formerly an advisor in tax dispute resolutions at the OECD Centre for Tax Policy and Administration discusses arbitration within the OECD model tax convention
Now that arbitration is available within the Organisation for Economic Co-operation and Development (OECD) Model Tax Convention as a supplementary dispute resolution tool, the next logical question is when do we get to use it? The short answer is that it ...
234.1% of GDP, pariah of debt markets, but with hopes for a healthy twelve months ahead
197.5%, hard-hit by the tsunami, and reeling from the internal corruption allegations
142.8%, possibly heading for default, and considered one of many eurozone bad boys
133.8%, deceptively, has a strong banking sector, but little more in an ailing economy
126%, hopelessly indebted banks and very little light at the end of a long and gloomy tunnel
119% of GDP, in need of reform, paying over 7% for its debt thanks to technocratic leadership
106%, to many an idyllic investment destination, a great borrower, repayer, and long term option
101%, no government for most of 2011 didn’t help a weak economy in dire need of stimulus
90%, high but it’s recovering from a long and protracted revolution and aiming high
82%, stronger countries like Germany are contaminated by the weakest. It could go on…