The Criminal Finances Bill will hold firms criminally liable where employees facilitate tax evasion by their clients. To protect themselves, firms must implement reasonable prevention procedures to mitigate the risk of facilitating a tax evasion offence.
The Norwegian Tax Assessment Act is effective from 1 January 2017. In addition to some significant material changes regarding tax assessment, the legislation introduces a new compulsory fine for late filing or non-compliance. Many branches are now at risk of such fines.
In its decision of 26 September 2016, the Supreme Court of Switzerland resolved a long-outstanding issue of Swiss tax law: the deductibility of punitive fines by companies for corporate tax purposes.
On January 1, 2017, Norway will introduce a new VAT return and new import VAT scheme.
The result of the US election has implications for businesses around the world. After months of often bitter rhetoric, do we really know what this administration will do?
The parliament has passed a new legislation to harmonise the tax authorities’ assessment of various taxes and introduced material changes on how the tax assessment should be practised.
Earlier this year, the US Department of Justice (DOJ) entered into its 80th, and final, non-prosecution agreement with a Swiss bank as part of its groundbreaking program to combat offshore tax evasion in Switzerland and beyond.
The State Fiscal Service of Ukraine introduced amendments to the Order of State Fiscal Service of Ukraine with a view to reforming the procedures for instituting the tax evasion criminal investigations.
The Dutch Supreme Court referred questions for a preliminary ruling to the European Court of Justice, asking whether certain elements of the Dutch fiscal unity regime should also be available to Dutch resident companies with a 95% or more EU resident parent, subsidiary or sister company which can not be part of a Dutch fiscal unity due to the geographical restrictions of the fiscal unity regime.
The UK Supreme Court has held that HM Revenue & Customs were correct to interpret tax legislation to ignore arrangements without a "business or commercial purpose". This prevented a tax avoidance scheme involving bankers' bonuses from succeeding.