Tax Policy and Controversy Briefing, February 2011 - Ernst & Young - Global

The breadth of our coverage on the topics of tax policy and controversy on a quarterly basis is a good indication of the rapid developments in these areas around the world.

Inside this issue

• From the leaders. Ernst & Young Tax Policy and Controversy leaders Chris Sanger and Rob Hanson discuss country-specific issues, the OECD’s new reports on tax policy and tax policy reform and Linda Lizotte-MacPherson’s views on the changing global enforcement landscape.


• Interview with the Canada Revenue Agency’s Linda Lizotte-MacPherson. Canada’s tax commissioner talks to Ernst & Young about the business of tax administration in an increasingly globalized, interconnected world.


• The new joint audit landscape: a window of opportunity for companies to assess, develop strategy. The OECD has published their Joint Audit guidebook and leading tax administrators are looking for volunteers. We assess why companies might consider being an early adopter.


• European Commission: tax policy outlook for 2011 and beyond. Steve Bill, former head of the European Commission’s VAT Unit looks at the four key taxation themes that have emerged as policy cornerstones for the new European Commission.


• 2010 global transfer pricing survey: addressing the challenges of globalization. Transfer pricing remains a tax challenge for the world’s leading companies. That’s the major observation from our latest Ernst & Young survey of tax directors and international tax practitioners.


• European Commission and the CCCTB. The CCCTB will be vigorously debated in 2011. But with such a wide-ranging, fundamental change, getting the agreement of all countries will be an uphill struggle for the European Commission.
• Managing the new immigration risk landscape. The risks of non-compliance with immigration law are growing. James Egan looks at the new threats to both companies and individuals.

Selected country news

• China: a tightening tax net for Foreign Investment Enterprises. China is leveling the playing field in a desire to put domestic companies on an equal footing with inbound investors. We review the range of circulars launched in recent years.
• Japan's tax competitiveness raises up the policy agenda. Japan’s government is actively pursuing a growth agenda. We look at their recent tax reform proposals and assess why their recent corporate rate cut doesn’t go all the way to meeting the demands of Japanese business leaders.
• 2010 Russia Tax Survey: a step in the right direction? Reece Jenkins reports on some of the key findings from our 2010 survey of businesses operating in the Russian tax regime.
• United Kingdom: Corporate Tax Roadmap — a clear set of directions to competitiveness? We review the UK’s new Corporate Tax Roadmap, looking at a number of tax policy issues under focus, and discuss to what extent this initial policy stance might move the UK back into a competitive position.
• United States tax legislation and tax reform: what’s next? With the recent State of the Union address setting the stage for corporate tax reform in 2011, it looks like the reform debate is back on the agenda. We look at the drivers and the focus areas.

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