Tax / TAG Tax (J)



This is a TIAG and TAGLaw "Joint" Specialty Group.

The TIAG Co-chairs are shown below. Click the "Group Member List" icon to view co-chairs and members from both TIAG and TAGLaw.

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Meet the Co-chairs - TIAG


Spearman, Lisa
Mercer & Hole
lisaspearman@mercerhole.co.uk


On, Wendy
Fineman West & Co. LLP
won@fwllp.com


Brenner, Saul B.
Berdon LLP
sbrenner@berdonllp.com


Saba, Fuad
FGMK, LLC
fsaba@fgmk.com


Meet the Co-chairs - TAGLAW


Derewenda, Anna K.
Williams Mullen (VA)
aderewenda@williamsmullen.com


Meet the Co-chairs - TAG-SP


Severino, Maria
Collins Barrow Toronto LLP
mseverino@collinsbarrow.com


The Australian Government has revealed it plans to close certain loopholes in the super tax system. In particular, it has set its sights on transition to retirement pensions and anti detriment payments.  We discuss the potential changes to these superannuation benefits as the Government prepares its tax reform agenda.

Read the entire article

The following is a synthesis of the Explanatory Statement published by Organisation for Economic Co-operation and Development (OECD) relating to the OECD/G20 Base Erosion and Profit shifting Project

BACKGROUND

The Base Erosion and Profit Shifting (BEPS) Project is being heralded as a seismic shift in international taxation and its collection by governments, and the biggest change in international taxation principles for the past 100 years.

Read more: Base Erosion and Profit Shifting Project (BEPS)

Fuad SabaOn October 5, the Organization for Economic Cooperation and Development (OECD) presented its final reports under fifteen “Action Items” that are intended to be a foundation for the reform of worldwide international tax rules. These reports, under the Base Erosion and Profit Shifting (BEPS) project, originated with a 2013 request to the OECD by the G20 Leaders to focus on recommendations to prevent tax avoidance practices. The final reports provide governments with recommendations for addressing “gaps” in existing international rules that have resulted in the shifting of income to low-tax jurisdictions. Although the OECD is not a legislative body, its guidelines on international taxation have been followed or adopted in many countries, so that the BEPS reports likely will translate into changes in tax legislation in individual countries around the globe, including the US.

Read more: OECD BEPS Final Reports issued on October 5, 2015

Contact: Edwina Ring,  ESV (New South Wales, Australia)

Earlier this year the Abbott Government commenced a process for implementing major tax reform, however after a change in leaders there has been some uncertainty as to what this reform will now look like.

Read more: Super Tax Concessions in the Spotlight

Contact: Fuad Saba, FGMK, LLC (Chicago, Illinois, USA)

BEPS Final Reports issued on October 5, 2015

On October 5, the OECD presented a wide-ranging set of final reports under fifteen “Action Items” that are intended to be a foundation for the reform of worldwide international tax rules. These reports, under the common heading of the BEPS project, had their origin in a request of the OECD in 2013 by the leaders of the G20 countries to focus on tax reform recommendations to prevent tax avoidance practices. The final BEPS reports provide governments with recommendations for addressing “gaps” in existing international rules that have resulted in the shifting of large amounts of income to low-tax jurisdictions.

Read more: OECD releases Final Reports on Base Erosion and Profit Shifting (BEPS.)