The week's tax news in one handy summary.
New Zealand Tax
- I concur with Craig Elliffe's conclusions, pretty standard practice | Super Fund dealt with Paradise Papers firm
- More forthrightness from Let's Talk About Tax NZ on the Paradise Papers | ‘It’s a long way to paradise from here’
- Research would appear to allow IRD to argue acquired with purpose of disposal | Investors cause housing crisis
- Another example of why I think GST is becoming obsolete | Kiwi retailers warned to get ready for Aussie GST plan
- Bought & sold 40 properties in 2003-2007 tax years | Property flipping couple lose case after $1.7m arrears ran up
- Unsurprising given present settings but Tax Working Group should look at future role of GST | Government will 'absolutely' ensure GST is paid on internet shopping purchases
- Still seems to be a question of 'when' not 'if' | Finance Minister Grant Robertson backpedals on 'ambitious' Stuart Nash over GST
- Very pleased to see my co-author @BeeFaerie will be sitting on the Finance and Expenditure and Environment Select Committees.
- November's Tax Information Bulletin includes interpretation statement on compulsory zero-rating of land rules & determinations for Accounting Income Method
- The OECD has published updated versions of transfer pricing country profiles, reflecting the current transfer pricing legislation and practices of 31 participating countries (including New Zealand)
United States Tax
- About the US tax cut proposals but contains this salutary warning which our new Minister of Revenue should keep in mind “And the I.R.S., underfunded as it is, isn’t going to be able to check anything.” | Haste on Tax Measures May Leave a Trail of Loopholes
- Random tax question for the day: now Xero will only be listed on the ASX from February will that mean it is within the FIF regime or will it qualify as an Australasian share?
United Kingdom Tax
- Over in Britain proposals to impose quarterly digital reporting have not been welcomed with great enthusiasm. A lesson for Inland Revenue's Business Transformation programme?
- Good day for HMRC - currently it's winning about 90% of avoidance cases in court | Billion pound win for UK taxpayers
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