Regulations demand disclosure of company beneficial ownership To tackle tax evasion, Indonesia’s President Joko Widodo has issued regulations requiring all businesses to disclose details of who beneficially owns the entity. The move will give Indonesia’s tax authorities more data with which to tackle tax evasion and money laundering, it was said. It will also support...Read More

Practitioners to be forced to report ‘aggressive’ cross-border tax planning The EU Council of Finance Ministers has approved a draft Directive requiring tax advisors, accountants and lawyers to report corporate cross-border tax planning schemes that bear ‘hallmarks’ suggesting they may be considered aggressive. The reports will be automatically shared among Member States, which have until...Read More

Value-added tax on yachts: Commission opens infringement procedures against Cyprus, Greece and Malta The Commission decided today to send letters of formal notice to Cyprus, Greece and Malta for not levying the correct amount of Value-Added Tax (VAT) on the provision of yachts. This issue can generate major distortions of competition and featured heavily in...Read More

KPMG Announces Agreement With IBM Watson To Help Deliver Cognitive-Powered Insights KPMG LLP and IBM (NYSE: IBM) today announced plans to apply IBM’s Watson cognitive computing technology to KPMG’s professional services offerings. The agreement, including a focus on auditing services, builds on several recent successful KPMG initiatives demonstrating the promise of cognitive technologies in transforming...Read More

EU tax haven blacklist set to shrink further, causing outcry BRUSSELS (Reuters) – European Union states are set to remove Bahrain, the Marshall Islands and Saint Lucia from a list of tax havens next week, leaving only six jurisdictions on it, an EU document shows. The planned removals from the EU list drew criticism from...Read More