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Welcome to Tax Watch

Countdown to year-end.....


With 31 March 2012 just around the corner, we highlight some key current changes and issues that you might find useful for your 2011-12 year-end and beginning of the 2012-13 income year. Specifically we highlight tax rate changes, depreciation changes, GST changes, qualifying company reforms and the impact of new Double Tax Agreements with Hong Kong and Turkey. We also cover changes to FIF investments and thin capitalisation for inbound and outbound situations.


At EY's recent Tax Directors' Forum we discussed transfer pricing implications of the Alesco case. We provide a snapshot of that discussion with John Nash, Inland Revenue's manager of International Revenue Strategy.


Also this issue, how do you keep the VAT flame burning? If you are travelling to Europe for business, do keep in mind what you are entitled to in the way of VAT refunds.


Tax Watch in brief this month covers various developments in legislative policy affecting all of us.  There will be something of interest here for all our readers.

If you require any additional information on any of the featured articles in this newsletter, please contact your usual EY adviser or one of our tax team. 


Kind regards
EY tax team




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