Following French President Macron’s recent decision to cancel France’s 3% Digital Services Tax (DST), on 22 January 2020 at the World Economic Forum in Davos, the UK Chancellor confirmed the UK Government’s plans to proceed with their own UK DST in April 2020.
There have been a number of reactions from both sides of the Atlantic in recent days regarding both the French and UK decisions. In this article, we focus on the current UK […]
Hot on the heels of news published earlier this month that multi-nationals are still paying little to no tax here in Australia, one of the world’s most well-known corporate juggernauts has announced it has reached a settlement with the ATO after a decade-long dispute.
The settlement, which involves no admission of liability, will see tech giant Google pay $481.5 million to the tax office after an audit of its tax practices between 2008 and 2018.
In a statement, […]
To provide a fillip to current economic slowdown in the country, Finance Minister Nirmala Sitharaman announced cuts in corporate taxes. Thus, the Taxation Laws (Amendment) Ordinance, 2019 was passed to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. Key highlights of these amendments are listed below.
Domestic companies that have not availed any concessional tax regime will be allowed to pay corporate tax at the rate of […]