EU Finance Ministers talk BEPS and CBCR

Today saw the latest ECOFIN meeting under the Netherlands presidency of the EU.

A key item on the agenda was the first real discussion by the Finance Ministers of 24 of the EU Member States, on the BEPS inspired tax proposals of the European Commission. Pierre Moscovici was in attendance to present the Commission proposals and hear views.

Of all the proposals, the one that got the most specific debate was country-by-country reporting (CBCR), with George Osborne being clear on his view of public CBCR.

Google: Still searching for an answer

Today saw the latest phase of the Google saga, with Google and HMRC appearing before the Public Accounts Committee (PAC) again.

It is clear that the PAC is asking more informed questions each time tax is on the agenda, and we learnt some things from this hearing.

However, there was more evidence about where PAC scrutiny is and isn't effective than real new information about Google. 

84% of Britons believe “Erm, yes, that sounds like a good idea”

Yesterday the Evening Standard published results of a survey carried out by BMG Research into British attitudes to tax transparency.

They found that over 80% answered “yes” to their two questions. The problem is their questions weren’t the best ones, and I suspect the results are therefore less them meaningful.

With rhetoric like “publicly shame corporate giants seen by many as cheating the country out of millions in tax”, the blunt instrument of “they are all at it you know” seems at work here.

So can we glean anything from this piece? I think so.

UK Businesses required to publish Tax Strategy

I previously wrote about the HMRC consultation on Improving Large Business Tax Compliance. One element of this was the publication of a Tax Strategy.

This then appeared in the Autumn Statement, and now in Finance Bill 2016.

The proposals will only come into force after Royal Assent, but it would be bold to bet against this making it into the Finance Act broadly as it is.

So we are left with 2 very obvious questions. What do the requirements say, and what should businesses be doing now?

Osborne's Autumn Statement: Now you see it.... Now you don't.

Chancellor George Osborne yesterday delivered his Autumn Statement, and we expected most of the focus was on the Spending Review, and where the axe will fall. Then came some pretty big surprises around tax credits and police funding.

Always one to have a rabbit or two to hand, these were well kept secrets. They had all the "Now you see it.... Now you don't" of the large scale TV magician. However, there was plenty to digest on the tax front too.

Much will be written over the coming days about the Apprenticeship Levy, GAAR penalties, and a long list of other tax proposals coming out of the Autumn Statement.

COP21 and carbon pricing: Is there a climate for change?

Later this month, global leaders will descend on Paris for the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC); more snappily COP21.

Will this meeting see a significant step forward for emissions reduction? Is the climate for change big enough to bring a global price for carbon?

David Gauke's comments at ARC "Tax Myths"event

Attending the “Top Tax Myths” event, hosted by ARC, David Gauke MP, Financial Secretary to the Treasury responded to opening comments by ARC, the Low Income Tax Reform Group, CBI and ActionAid.