The US will not negotiate a free trade deal with the UK unless a new digital services tax is dropped, according to a newspaper report – Source: Sky News The measure, which was proposed in 2018 by then chancellor Philip … Continue reading Scrap Digital Tax, or no Free Trade Deal
The finance ministers meeting today at the G20 held in Moscow have today pledged to ensure that multinational companies will no longer be able shifting profits from a home country to pay less tax elsewhere – the aim is to prevent tax avoidance by large companies. France, Britain and Germany have been the main proponents seeking radical changes to existing european legal loopholes and members of these countries also promised to refrain devaluing their currencies to gain economic advantage; which could cause a “currency war”. The fears had been sparked by Japan’s recent policies, which have driven down the value of the yen, aiding its exporters. … Continue reading G20 To Tackle Tax Avoidance
The Government is today initiating a historic agreement with Switzerland to tackle offshore tax evasion in an effort to resolve the long-standing abuse of Swiss banking secrecy by those who seek to conceal the proceeds of tax evasion, this measure is expected to secure billions of pounds of unpaid tax for the UK exchequer starting from 2013. Under the terms of the agreement, existing funds held by UK taxpayers in Switzerland will be subject to a significant one-off deduction of between 19% and 34% to settle past tax liabilities, leaving those who have already paid their taxes unaffected. As a … Continue reading UK and Swiss agreement on tax evasion
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