Complying with real time information when monthly pay receipts are uncertain
The European Commission (EC) has opened investigations into whether decisions about corporation tax to be paid by Apple, Starbucks and Fiat complied with European Union (EU) rules on state aid.
The commission has been examining tax practices in several member states, following media reports alleging that some big businesses received significant reductions by way of rulings issued by national tax authorities. Decisions can involve state aid if they provide selective advantages to a specific company or group of companies.
A Perrin (TC3363)
What transpired in the third and fourth Finance Bill sittings
The US tax authority, the Internal Revenue Service (IRS), has announced a relaxation of enforcement and administration of the due diligence, reporting, and withholding provisions under FATCA for 2014 and 2015 for entities that have made “good faith efforts to comply” with the regulations. (See IRS notice 2014-33 Further Guidance on the Implementation of FATCA and Related Withholding Provisions.)