Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: form 3cd :: list of goods taxed at 4% :: TDS :: due date for vat payment :: ACCOUNTING STANDARDS
 
 
General »
  Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 Cases for tax scrutiny will be selected by machines
 Time to revisit 1997 direct tax rates, says P Chidambaram
 Lok Sabha passes Bill to tax black money deposits post demonetisation
 Last day to pay property tax with old notes
 Income tax department asks IDS declarants to pay tax by 30 November
 Why PM Narendra Modi must beware of the breathtaking Arthakranti tax
 Japanese firms seek easing of restrictions on funding in India
 Tax on black money: How the cookie will crumble
 Income tax officials say raids on jewellers based on 'credible intelligence' proving fruitful
 Exchange window being misused, government forced to reduce limit to Rs 2000, says Arun Jaitley

Incoming antitrust head promises action on tax deals
October, 03rd 2014

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Emailto buy additional rights.

Europe’s incoming antitrust chief has promised a tough line on state-subsidised tax avoidance, saying she will “send a signal” with the speedy conclusion of probes into deals with the likes of Apple, Fiat and Starbucks.

At her European parliament confirmation hearing to become EU competition commissioner, Margrethe Vestager described the landmark state-aid cases as “a high priority” that would help ensure companies big and small paid their taxes in full. Her comments will give added impetus to the ambitious European Commission drive to use rules against state support for companies to crack down on sweetheart deals that artificially lower tax bills for multinationals.
More
ON THIS STORY
Bloodletting mars Brussels confirmationsEuropean Commission reshuffle calls mountMoscovici endures torrid EU hearingHill fails to convince Brussels doubtersPhilippe Lamberts Juncker’s jokersON THIS TOPICEditorial First strike at corporate tax avoidanceBritish Virgin Islands under pressureTax demands sent to scheme investors
HMRC claims tax scheme victory

IN BRUSSELS

Tougher terms planned for Hinkley Point CBrussels hits out at Apple’s Irish tax dealsEU digital chief warns MEPs over GoogleMoscovici powers on budgets to be curbed
The commission has already confronted Ireland over its tax deal with Apple, the Netherlands over its arrangements with Starbucks, and Luxembourg for offering what it believes are favourable terms to Fiat.

If proven, the in-depth investigations could in total lead to billions of euros of unpaid taxes being recouped, according to people familiar with the cases. But complex state aid investigations have in the past dragged on for many years. All the countries and companies subject to the investigation deny any wrongdoing.

“People are offended by some of the things that they see and read because they appreciate when people pay the tax that they are supposed to pay,” Ms Vestager said, adding she hoped the conclusion of the cases was prompt “not only to deal with the matter but to send a signal”.

Her focus on tax issues came during an assured three-hour hearing on competition policy before the parliament, where she promised to approach her job with impartiality, rigour and steely independence.

In response to several questions on the commission’s case against Google, Ms Vestager gave little away apart from to say she wanted to take steps to bring the four-year probe into the search engine a conclusion.

This contrasted with a much more forthright approach to tax issues and state-supported avoidance, which she described as a “very, very serious issue”.

As well as pointing to potential problems with tax rulings – where countries clarify tax laws for individual countries – Ms Vestager also highlighted her concern with tax structures that favour big companies.

In response to a question, she described the measure known as the Double Irish, which allows foreign companies including Google and Facebook to reduce their effective overall tax rates well below Ireland’s official 12.5 per cent corporate tax rate, as “a very unfortunate arrangement”.

Critics see the probes as a means to meddle in tax regimes over which the EU has no authority. Ms Vestager insisted she had no interest in changing tax policy “through the back door”.

“Large companies should not be allowed to organise themselves in way that allows them to pay much less tax than other companies,” she added to journalists at the end of her hearing. “We will pursue the investigations, make sure they are substantial, and hopefully win the cases.”

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions