Australian retailers face significant implications arising from US Senate’s decision to charge tax on online purchases

Selling online into America could become significantly more complex for Australian retailers following the passing of a bill earlier this month which gives the states of America the power to collect sales taxes from out-of-state retailers (as currently, the US only collects from operations within each state’s borders). The bill has passed through the US Senate but does face a second test in the US House of Representatives, however, in a bid to protect […]

By |July 11th, 2013|

Jersey’s First Challenge Against Disclosure Under A Tax Information Exchange Agreement

[Volaw Trust v Comptroller of Taxes [2013]JRC095]
The Royal Court of Jersey has dismissed the first appeal against a decision of the Jersey Comptroller of Taxes (“Comptroller”) to serve notice pursuant to a Tax Information Exchange Agreement (“TIEA”) requiring the production of certain information relevant to the tax affairs of a foreign resident.
Facts:
In 2010, the Comptroller, having received a request from foreign authorities, issued a formal notice to Volaw Trust requiring it, pursuant to regulation […]

By |July 7th, 2013|

New Zealand: The nitty-gritty of the thin cap reforms

Download: 2013 PUB BC The nitty-gritty of the thin cap reforms – 12 June.pdf

The Inland Revenue has released its much anticipated proposals to extend the scope of the thin cap regime and restrict the existing safe harbours.

The thin cap regime limits interest deductions claimed by foreign-owned New Zealand companies with debt to equity ratios exceeding certain thresholds.

Submissions can be made by 28 June 2013.

The changes were first proposed in January this year and the go-ahead […]

By |June 30th, 2013|