BRIC (Brazil, Russia, India, China)
- Mandatory Minimum 1% Income Tax Decree Imposed
- UL tax authorities move to limit exemption from Capital Gain Tax for properties used as the taxpayer's principal residence
- The UK tax authority has announced an increase in the amount of short-term loans from employers to employees that may be made free of tax.
- HM Revenue and Customs has reminded UK employers that the reporting of Pay As You Earn (PAYE) on a pay-period basis will go into effect on April 6, 2013
- The UK Revenue and Customs wins key case that holds invalid a widely-used scheme to avoid stamp duty land tax.
- UK Revenue and Customs announced that it will be sending additional penalty letters to some 500,000 individuals who haven’t yet sent in their 2010/11 tax return
- U.K. Office of Revenue and Customs announces new penalties for offshore tax evasion.
- U.K. Office of Revenue and Customs issued brief reversing previous position that “smart phones” are not mobile phones for purposes of provisions, allowing employers to provide them to employees without tax cost - effective February 20, 2012.
U.K. government issued draft legislation that would exclude a number of passive security enhancements from being treated as accessories in calculating the taxable value of employee benefits from use of a company car.
U.K. and Switzerland signed an agreement that will subject assets of U.K. taxpayers in Swiss banks to taxation, but without revealing the names of those taxpayers.
UK Treasury issues increase in Mileage Allowance Rate to 45 pence per mile for first 10,000 miles of business use
UK announces changes to the Stamp Duty Land Tax Return, effective July 3, 2011.
- U.K. announces new penalties for offshore tax evasion effective April 6, 2011.
- Implementation of the U.K. Bribery Act of 2010 Delayed Again
- Brief disseminated by U.K. Revenue and Customs reminding Taxpayers about New Time Limits that took effect in April 2010.
- Second amnesty for disclosure of offshore accounts announced
- The Court of Appeal for England and Wales said a taxpayer must show a “distinct break” from social and family ties in the UK to be treated as a nonresident even if the taxpayer was in the UK for less than 91 days per year.
- UK establishes Office of Tax Simplification to find areas in tax code that can be simplified for individuals and corporations alike
- Continuing tax simplification project, UK office requests comments on 1,042 tax reliefs present UK Tax System
Worldwide Tax Rates
International Legal Issues