Tax avoidance

Canadian Long Term Care Company Tax Dodging to Boost Profits According to a New Report by CICTAR

Retrieved on: 
Thursday, January 28, 2021
Tax avoidance, Revera, Tax, Income tax, Economy, International taxation, Corporate tax avoidance

OTTAWA, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Canadas second largest long term care home operator, Revera, appears to use aggressive tax avoidance schemes in the UK, according to a new report, Tax Dodging by a Canadian Crown Corporation: Revera Living Making a Killing , from the Centre for International Corporate Tax Accountability and Research (CICTAR).

Key Points: 
  • OTTAWA, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Canadas second largest long term care home operator, Revera, appears to use aggressive tax avoidance schemes in the UK, according to a new report, Tax Dodging by a Canadian Crown Corporation: Revera Living Making a Killing , from the Centre for International Corporate Tax Accountability and Research (CICTAR).
  • The report shows how Reveras UK care homes generate large revenues, but appear to shift profits offshore, raising major concerns in the UK and Canada that Revera-owned homes prioritize profit over people.
  • Tax dodging in the UK would violate PSP-endorsed responsible investment principles and raises critical questions about Reveras business model.
  • Revera-controlled operating companies report losses in the UK to eliminate income tax payments and generate tax credits.

Fortis Lux Expands Services to Help Businesses Thrive Amid COVID Economy

Retrieved on: 
Wednesday, January 27, 2021
Finance, Financial services, Money, Investment management, Tax avoidance, Fortis, Certified Public Accountant, Accounting, Wealth management

"The COVID economy has pushed business owners and executives into making decisions amid uncertainty and turmoil," explains John Salina, Managing Director, Fortis Lux.

Key Points: 
  • "The COVID economy has pushed business owners and executives into making decisions amid uncertainty and turmoil," explains John Salina, Managing Director, Fortis Lux.
  • This strategic partnership will allow BigAppleAccounting to provide clients access to additional financial services beyond accounting and tax services.
  • Working with Fortis Lux Financial, will allowBigAppleAccounting to offer current and future clients wealth management services, estate planning, investment planning, tax management, and retirement options.
  • Big Apple Accounting, Tax & Advisory ("BigAppleAccounting") is a full-service CPA firm that offers monthlyaccounting, tax preparation, tax planning and outsourced CFO services.

Corvee Adds ERTC Calculations to Tax Planning Software

Retrieved on: 
Wednesday, January 27, 2021
Tax avoidance, Tax, Economy, Articles

FORT LAUDERDALE, Fla., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Corvee, a software and solutions company which serves tax and accounting firms, today announces the company has added employee retention tax credit (ERTC) calculations to its Tax Planning software as updated in the recent COVID-19 relief bill passed in late 2020.

Key Points: 
  • FORT LAUDERDALE, Fla., Jan. 27, 2021 (GLOBE NEWSWIRE) -- Corvee, a software and solutions company which serves tax and accounting firms, today announces the company has added employee retention tax credit (ERTC) calculations to its Tax Planning software as updated in the recent COVID-19 relief bill passed in late 2020.
  • With this latest addition to its Tax Planning software, tax professionals are able to do a complex tax savings calculation to help clients save money and be the trusted advisor they need.
  • However, with the newest legislation and the extension of the credit, we wanted to make this as simple as possible for tax professionals by adding the functionality to do these calculations directly in our Tax Planning software.
  • In addition to tax planning software, Corvee offers growth and development programs that help firms transition from compliance to advisory services.

2021 Outlook From Bloomberg Tax & Accounting Explores The Issues Likely To Shape The Year Ahead

Retrieved on: 
Tuesday, January 26, 2021
Tax, Articles, Tax avoidance, Corporate tax avoidance, Competition, Pricing, Internal Revenue Service, Transfer pricing, International taxation, Corporate haven, Tax haven

ARLINGTON, Va., Jan. 26, 2021 /PRNewswire/ -- Bloomberg Tax & Accounting today announced the availability of its 2021 Outlook on Tax, a 50-plus page collection of news and insights from practitioners that focuses on the key federal, state, and international tax issues that tax professionals will have to navigate in the year ahead.

Key Points: 
  • ARLINGTON, Va., Jan. 26, 2021 /PRNewswire/ -- Bloomberg Tax & Accounting today announced the availability of its 2021 Outlook on Tax, a 50-plus page collection of news and insights from practitioners that focuses on the key federal, state, and international tax issues that tax professionals will have to navigate in the year ahead.
  • Key issues addressed in the Tax Outlook 2021 include:
    Federal Tax: The Biden administration's tax plans, how Covid-19 relief measures could trigger tax filing mistakes, and IRS enforcement trends.
  • International Tax: What's next for Europe's tax agenda, international tax avoidance rules and related cases, and tax scrutiny in transfer pricing.
  • "Our 2021 Outlook on Tax features an unrivaled combination of coverage from Bloomberg Tax's team of expert reporters along with actionable insights offered by leading tax practitioners from across the globe," said Lisa Fitzpatrick, President, Bloomberg Tax & Accounting.

Corvee Releases 2021 Tax Season Questionnaires in Tax Planning Software

Retrieved on: 
Friday, January 22, 2021
Tax avoidance

FORT LAUDERDALE, Fla., Jan. 22, 2021 (GLOBE NEWSWIRE) -- Corvee, a software and solutions company which serves tax and accounting firms, today announces the release of its 2021 tax season questionnaires, file requests and engagement letters directly within the companys Tax Planning software.

Key Points: 
  • FORT LAUDERDALE, Fla., Jan. 22, 2021 (GLOBE NEWSWIRE) -- Corvee, a software and solutions company which serves tax and accounting firms, today announces the release of its 2021 tax season questionnaires, file requests and engagement letters directly within the companys Tax Planning software.
  • This technology was developed by Michael Bergman, lead software engineer at Corvee, and the Corvee team and is the first time tax prep questionnaires will feed directly into tax planning calculations.
  • This automation of information will give tax professionals the ability to complete 80% of tax planning for their clients when collecting tax preparation documents.
  • With the Tax Planning software, tax professionals are able to formulate a tax savings calculation, develop a proactive and strategic tax plan and be the trusted advisor clients need.

Press release - EU tax haven blacklist is not catching the worst offenders

Retrieved on: 
Friday, January 22, 2021
Articles, Economy, International taxation, Tax avoidance, Corporate tax avoidance, Tax evasion, Global issues, Tax haven, Tax, Paul Tang

MEPs propose changes that would make the process of listing or delisting a country more transparent, consistent and impartial.

Key Points: 
  • MEPs propose changes that would make the process of listing or delisting a country more transparent, consistent and impartial.
  • Criteria should be added to ensure that more countries are considered a tax haven and to prevent countries from being removed from the blacklist too hastily, they say.
  • EU member states should also be screened to see if they display any characteristics of a tax haven, and those falling foul should be regarded as tax havens too (PARA 9).
  • QuoteAfter the vote, the Chair of the Subcommittee on Tax Matters, Paul Tang(S&D, NL) said:By calling the EU list of tax havens confusing and inefficient, the Parliament tells it like it is.

Altus Group Announces Alex Probyn as Global President of Property Tax

Retrieved on: 
Tuesday, January 19, 2021
Altus Group, Articles, Economy, International taxation, Altus, Tax, Tax avoidance, Corporate tax avoidance, Global issues, Offshore finance

TORONTO, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Altus Group Limited (Altus Group or the Company) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, is pleased to announce the promotion of Company veteran Alex Probyn to the role of Global President of its Property Tax business.

Key Points: 
  • TORONTO, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Altus Group Limited (Altus Group or the Company) (TSX: AIF), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, is pleased to announce the promotion of Company veteran Alex Probyn to the role of Global President of its Property Tax business.
  • In support of the global operating model, Altus Group is also pleased to announce the hire of Russell Schreiber to the newly created role of Chief Operating Officer for Global Property Tax.
  • Succeeding Alex in the role of President of U.K. Property Tax is Robert Hayton, previously, Executive Vice President, Empty Rates & Property Tax in the U.K. and has been with the Company for over 20 years.
  • Robert, together with the other national presidents, Terry Bishop, President of Property Tax Canada, and Trey Beazley, President of Property Tax U.S., will support Alex and Russ in the execution of the Companys global Property Tax strategy.

M&A valuations boom in the second half of 2020, despite COVID-19 impacts on the economy, according to PwC

Retrieved on: 
Tuesday, January 19, 2021
PricewaterhouseCoopers, Mergers and acquisitions, Economy, Business, Corporations, Tax avoidance

In spite of the uncertainty created by COVID-19, the second half of 2020 saw a surge in M&A activity.

Key Points: 
  • In spite of the uncertainty created by COVID-19, the second half of 2020 saw a surge in M&A activity.
  • The higher deal values in the second half of 2020 were partly due to an increase in megadeals ($5 billion+).
  • Overall, 56 megadeals were announced in the second half of 2020, compared to 27 in the first half of the year.
  • PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity.

Scott Whalen Joins Smith & Howard's Partner Group Effective January 1, 2021

Retrieved on: 
Friday, January 15, 2021
Value-added tax, International taxation, Tax, Tax avoidance

ATLANTA, Jan.15, 2021 /PRNewswire-PRWeb/ -- Scott Whalen became a partner at Smith & Howard effective January 1, 2021.

Key Points: 
  • ATLANTA, Jan.15, 2021 /PRNewswire-PRWeb/ -- Scott Whalen became a partner at Smith & Howard effective January 1, 2021.
  • "Scott has been an integral member of our tax group since he started as an intern in 2008.
  • His ability to help our clients navigate complex tax issues has helped elevate the firm's standing.
  • Scott focuses on clients with international tax issues in addition to providing accounting method expertise alongside transaction advisory services.

United Kingdom Estate and End of Life Planning Market Report 2020: COVID-19 Inspires Greater Interest in Estate Planning

Retrieved on: 
Thursday, January 14, 2021
Estate planning, Property law, Tax avoidance, Taxation in the United States, Law

DUBLIN, Jan. 14, 2021 /PRNewswire/ -- The "Estate and End of Life Planning 2020" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Jan. 14, 2021 /PRNewswire/ -- The "Estate and End of Life Planning 2020" report has been added to ResearchAndMarkets.com's offering.
  • The report studies the degree to which consumers in the UK engage in estate and end of life planning.
  • This is less than the 35% which have made a will: for almost half of consumers estate planning is associated only with making a will.
  • Consumers are aware of the value of estate planning and around half of consumers consider estate planning as part of being a good spouse/parent.