Tax & Regulation
Tax & Regulation | 31 Aug 17
UK non-dom taxpayers add £9.3bn to gov’t coffers
Non-domiciled taxpayers in the UK contributed £9.3bn ($12bn, €10bn) in tax receipts in fiscal year 2014/15, data released by HM Revenue & Customs shows.
North America | 31 Aug 17
US tax workers jailed for using foreign IDs in $5m scam
Three Americans have been convicted of using the stolen identities of foreign nationals to conspire to defraud the US Internal Revenue Service (IRS) of more than $5m (£3.9m, €4.2m) over the course of four years.
Tax & Regulation | 31 Aug 17
Australia ramps up strategy to hit aggressive int’l tax plans
Australia’s tax avoidance taskforce has set out a new strategy to target aggressive international trust planning, having already raised over A$279m (£182m, €197m) over the last four years through its fight against “tax avoidance or evasion by privately owned and wealthy groups”.
Issuing tax laws by press release perilous for South Africa
Introducing tax legislation by press release and putting changes into place with immediate effect puts South African taxpayers in an “impossible position”, a tax expert has warned.
Best Practice | 30 Aug 17
HMRC’s rules for IHT on downsizing property are ‘impenetrable’
New HMRC guidelines on how people can downsize their home but retain the value of their previous residence for inheritance tax reduction purposes have been branded ‘impenetrable’ by accountancy body the ICAEW.