Canada Aims to Shrink Green Tax Credit Backlog With Hiring Spree

Canada expects a slew of newly hired auditors to accelerate investment tax credit applications and deliver money to green technology investors, aiming to break through a backlog that has frustrated its clean technology program.

IRS ‘Significant-Issue’ Move Hailed as Boost for Letter Rulings

The IRS plan to resume providing individual private letter rulings to taxpayers on “significant issues” within corporate transactions will be a shot in the arm for the agency’s entire letter-ruling process, practitioners said.

Canada’s Carbon Tax Hinders Pipeline Plans, Cenovus CEO Says

Alberta’s planned oil pipeline to the west coast requires Canada to shift away from stricter climate policies and toward promoting greater oil production from new projects, Cenovus Energy Inc.’s chief executive officer said.

Turkey Proposes Corporate Tax Breaks to Lure Foreign Investment

Turkey’s ruling party is proposing a wave of fresh corporate tax incentives aimed at bringing capital and high-net-worth individuals into the country.

Swedish Lawmakers Grant Tax Agency New Powers Against VAT Fraud

The Swedish parliament approved Wednesday expanded powers for the national tax agency to combat value-added tax fraud.

Tax Developments

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OECD Posts Updated List of Signatories for GIR MCAA

The Organization for Economic Cooperation and Development (OECD) May 5 posted an updated list of signatories, with signing dates, to the Multilateral Competent Authority Agreement on the Exchange of Global ...

OECD Updates List of Signatories to MCAA-CRS Addendum

The Organization for Economic Cooperation and Development (OECD) May 5 posted an updated list of signatories, with signing dates, to the addendum to the Multilateral Competent Authority Agreement (MCAA) on ...

Bahamas Announces FATCA Reporting Period for Financial Institutions

The Bahamian Government May 6 announced that the reporting period for financial institutions subject to the U.S. Foreign Account Tax Compliance Act (FATCA) is scheduled from May 1 to June ...

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