Tax Loopholes Links

DTC Bill proposes to plug loopholes on foreign acquisitions

To plug loopholes that led to dispute between Vodafone & I-Tax department, govt proposed to impose capital gains tax on acquisitions made overseas.

Natural gas tax plan suggested

The Pennsylvania Budget and Policy Center on Tuesday released a new report recommending how the state Legislature should structure a fair severance tax on natural gas extraction.

DTC Bill proposes to plug loopholes in Vodafone-type buyout

DTC has proposed to impose CGT on overseas acquisitions if the acquired company holds over 50 per cent assets in India to plug the loophole that led to Vodafone disputing a tax claim on its USD 11.1 billion deal with Hutchison.

IRS plans to uncover corporations' tax-avoidance strategies

Beginning next year, the Internal Revenue Service plans to mandate that corporations also provide a brief description of their uncertain tax positions and their rationale, essentially offering a road map for its auditors.

Dan Walters: California tax system overhaul is way overdue

One can find broad agreement in the Capitol – and probably in the public – that California's tax systems, which collect upwards of $200 billion a year, are a mess.