Weekly tax brief - 12 April 2016

In this edition of RSM’s weekly round-up of the most important tax news, we cover the latest developments…

How well will the EU tax transparency measures go down in Washington?

12 April 2016

The EU Commission announced that multinationals operating in the EU with annual turnover of more than €750m will be required to publish country-by-country information including a breakdown of profits, tax, employees and net turnover on a yearly basis.

Would you make your tax return public?

12 April 2016

With the publication of the tax returns of the Prime Minister, we have passed the point of no return when it comes to tax transparency. But in deciding who should be required to publish their tax information, where should the line be drawn?

Tax evasion - is a criminal offence for companies the answer?

12 April 2016

This week, the Prime Minister announced that the Government is bringing forward plans to introduce a criminal offence for corporations that fail to stop their staff facilitating tax evasion. So will this be an effective measure or is it a knee-jerk reaction that’s destined to fail?

PETs result in Potential Extra Turmoil for David Cameron

12 April 2016

In the week politicians’ tax affairs have come under much scrutiny we have taken a stroll through the IHT archives to uncover the history of the gift rules that have attracted yet more unwelcome attention for the Prime Minister.

EU plan aims to reduce €50bn VAT fraud

12 April 2016

The EU estimates that, as a result of weaknesses in the current VAT system, cross-border VAT fraud accounts for EUR 50 billion of revenue lost each year. An action plan announced last week sets out how the EU proposes to tackle this and how businesses can play their part.