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IRS to survey thousands of nonprofits with outstanding tax exempt bonds

  • Squire Sanders
  • -
  • USA
  • -
  • July 27 2007

On May 11, 2007, Clifford Gannett, director of the Tax Exempt Bonds division of the Internal Revenue Service (IRS), announced plans to survey thousands of nonprofits with outstanding tax exempt bonds

House and Senate Stimulus Legislation public finance provisions

  • Squire Sanders
  • -
  • USA
  • -
  • January 30 2009

The US House of Representatives, on January 28, 2009, passed the "American Recovery and Reinvestment Act of 2009" commonly referred to as the "Stimulus Legislation."

Capital gains tax: HMRC relax their practice on computing currency gains

  • Squire Sanders
  • -
  • United Kingdom
  • -
  • December 31 2009

HMRC have published a welcome practice statement relating to the capital gains tax treatment of foreign currency bank accounts

Bank payroll tax: further details are announced

  • Squire Sanders
  • -
  • United Kingdom
  • -
  • December 31 2009

The announcement in the Pre-Budget Report regarding the bank payroll tax continues to cause disquiet not least because of the uncertainty which it creates

Offshore bank accounts: the disclosure regime is about to get worse

  • Squire Sanders
  • -
  • United Kingdom
  • -
  • December 31 2009

HMRC have published a note about offshore bank accounts

Does the sale of non-performing loans (NPLs) trigger VAT?

  • Squire Sanders
  • -
  • Germany
  • -
  • April 9 2010

This question is being discussed (again) in Germany following a recent decision by the German Federal Fiscal Court (BFH) inquiring with the European Court of Justice (ECJ) about certain aspects of the interpretation of the European Directive 77388EWG on the harmonization of laws of the Member States relating to turnover taxes (the VAT directive

New disclosure opportunity: the deadline is extended to 4 January

  • Squire Sanders
  • -
  • United Kingdom
  • -
  • November 30 2009

It will be remembered that 30 November was the deadline for registration under the New Disclosure Opportunity for those wishing to come clean about offshore income which has been concealed from HMRC, and take advantage of the 10 penalty (or 20 if you ignored the previous amnesty

FBAR compliance update

  • Squire Sanders
  • -
  • USA
  • -
  • March 8 2010

On Friday, February 26, 2010, the US Internal Revenue Service (IRS) issued two pronouncements concerning the 2009 Report of Foreign Bank and Financial Accounts (FBAR

Appeals out of time

  • Squire Sanders
  • -
  • United Kingdom
  • -
  • January 5 2011

The case of Legg v HMRC TC 813 indicates that it is generally not in your interests to ignore communications from HMRC

Double taxation treaty passports

  • Squire Sanders
  • -
  • United Kingdom
  • -
  • August 31 2010

On 1 September HMRC introduced a Double Taxation Treaty Passport Scheme to speed up the provision of treaty relief on UK loan interest payments by UK companies to lenders in other treaty countries