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CCCTB relaunch to promote overhaul of single market tax system
The European Commission has detailed its proposals for a fair, growth-friendly tax system with an update on the Common Consolidated Corporate Tax Base.
The European Commission announced during October that it had plans to recalibrate the..
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
Extension of the corporation tax interim securitisation regime
The interim regime for securitisation companies has been extended to apply to periods of account ending before 1 January 2037
Upon the introduction of International Accounting Standards in 2005, the accounting results, and therefore the..
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
Corporate Facilitation Offence legislation laid before Parliament
Draft legislation on the Corporate Offence of failure to prevent the facilitation of tax evasion has been laid before Parliament
HMRC has laid the draft legislation on the Corporate Facilitation Offences before Parliament as part of the..
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
OECD plans to improve dispute resolution under BEPS action 14
The OECD has published details of the peer review process designed to improve dispute resolution under the MAP process in double tax treaties
In a very welcome development the OECD has set out how it intends to implement the..
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
International update: The Basel III effect
In this short commentary from Russia, Mikhail Anisimov presents some of the impacts of Basel compliance on the domestic corporate bonds and derivatives market.
The dynamic of the Russian bond and derivatives markets has recently been..
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
Editorial
IASB concludes Agenda Consultation
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
Life after the Panama Papers
León Fernando del Canto discusses some of the international taxation implications in the wake of the data leak earlier this year.
Stories relating to ‘Panama Papers’ have spread like wildfire across the media since..
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
From the courts
It’s been a busy year for tax disputes, with some interesting domestic and international judgments. In this article, Neasa MacErlean outlines four cases and discusses their potential implications and practical points worth..
Online Published Date:
07 December 2016
Appeared in issue:
Vol 21 No 06 - 30 July 2016
Why Swatch Group doesn’t use IFRS
At a European accounting research conference in Switzerland, Thierry Kenel told participants what had induced Swatch Group to switch from IFRS in 2013, and how that had worked out. He pointed to IFRS importing market volatility into the balance..
Online Published Date:
14 December 2016
Appeared in issue:
Vol 21 No 07 - 14 December 2016
FATCA outlook: Impacts of IRS implementation and the 2016 election
In this commentary, Travis A. Greaves considers responses to the legislation from parties including taxpayers, banks and governments, and provides some predictions on how the results of the 2016 US election may impact the future of FATCA.
The..
Online Published Date:
14 December 2016
Appeared in issue:
Vol 21 No 07 - 14 December 2016
VAT: Hotels4u.com Ltd – First-tier Tribunal decision
The FTT considered a number of contracts finding mainly for the taxpayer in that it was acting as agent.
This case on UK hotel accommodation concerns the same issue as that considered in Secret Hotels2 Ltd (SH2) SC [2014]. If the taxpayer is..
Online Published Date:
14 December 2016
Appeared in issue:
Vol 21 No 07 - 14 December 2016
HMRC’s Advance Pricing Agreements programme: New Guidance
HMRC has updated its Statement of Practice on APAs. The new version reiterates HMRC’s commitment to APAs, but clarifies some limitations.
Following on from recent developments at the OECD and the European Commission in transfer pricing..
Online Published Date:
14 December 2016
Appeared in issue:
Vol 21 No 07 - 14 December 2016
Hybrid mismatch arrangements: What next?
Neasa MacErlean analyses the detail of the new rules and some practical considerations for the organisations which will be affected.
Multinational companies with a presence in the UK stand to be affected by new anti-hybrid rules which will come..
Online Published Date:
20 December 2016
Appeared in issue:
Vol 21 No 08 - 20 October 2016
Financial crime: 2016 developments
Financial crime prevention laws are never static, and 2016 has proved no exception to the continuous cycle of changes to existing laws and the introduction of new ones. Emma Radmore reviews some of the core changes
Over the course of the year,..
Online Published Date:
20 December 2016
Appeared in issue:
Vol 21 No 08 - 20 October 2016
To be or not to be selective
Annabelle Lepièce and Kim Gillade discuss the impact of state aid rules on tax measures, with particular focus on some recent European cases.
Competition commissioner Margrethe Vestager has set the European Commission state aid policy..
Online Published Date:
20 December 2016
Appeared in issue:
Vol 21 No 08 - 20 October 2016
The year in review
Sandy Bhogal and Ben Fryer provide an overview of some of the key tax developments in 2016 – including those from the recently issued Autumn Statement and Finance Bill – with potential implications for the financial services..
Online Published Date:
28 December 2016
Appeared in issue:
Vol 21 No 10 - 24 December 2016
Italy set to launch ‘non-dom’ regime
Giorgio Vaselli and Giulia Cipollini analyse the proposed amendments to the Italian ‘res non-dom’ regime.
The draft of Italy’s 2017 Finance Bill contains an interesting and rather broad set of provisions dedicated to..
Online Published Date:
28 December 2016
Appeared in issue:
Vol 21 No 09 - 23 December 2016
Endorsement advice on IFRS 4 and financial instruments
EFRAG has published draft endorsement advice on which it is asking constituents for comment. The advice is to endorse the proposed amendments to IFRS 4 to mitigate the effects of the difference in application date of IFRS 9 and the eventual new..
Online Published Date:
28 December 2016
Appeared in issue:
Vol 21 No 10 - 24 December 2016
ESMA issues IFRS 9 guidance
The ESMA has issued a public statement drawing attention to the disclosures it expects to see in 2016 financial statements in relation to IFRS 9. It underlines that companies should provide an analysis of its expected impacts on their 2018 financial..
Online Published Date:
28 December 2016
Appeared in issue:
Vol 21 No 10 - 24 December 2016
The imperfect storm
In this article Linda Pfatteicher, Matthew D. Cutts, Brandon C. Roman and Robert O’Hare of Squire Patton Boggs, provide an analysis of what a Trump administration might mean for US tax reform and the role of the US in formulating the future..
Online Published Date:
28 December 2016
Appeared in issue:
Vol 21 No 09 - 23 December 2016
Editorial: What lies ahead?
For many, 2016 will be remembered as a year of unprecedented change from a social, political and economic perspective.
From the tax viewpoint, there has been a well-documented flurry of activity from governments, regulators and standard-setters..
Online Published Date:
28 December 2016
Appeared in issue:
Vol 21 No 09 - 23 December 2016