Latest tax publications

HPE blames tax office outage on faulty SSD drive

Hewlett-Packard Enterprise has stated that outages at the Australian Taxation Office were caused by a problem with solid state drives provided by a separate vendor. A spokesperson for HPE stated that the disruption began when an SSD failed. While HPE did not name the vendor who provided the drive in question, the spokesperson did say… Read More

IRS lax on bitcoin investment guidance, report says

A report issued by the United States Government Accountability Office (GAO) has found that the IRS has not provided essential guidance to taxpayers regarding investment in ‘unconventional assets’, including virtual currency. The GAO, a bipartisan investigative arm of the U.S. Congress, recommends that the IRS improve guidance for citizens saving for retirement using tax-deferred Individual… Read More

UK celebrities implicated in data centre tax avoidance scheme

Several high-profile celebrities in the UK have received a bill for back taxes associated with the building of the Cobalt 2 and 3 data centers in Tyneside. A group of 675 investors took part in the building of the data centers in 2011, contributing 79M GBP to the construction fund. However, a tax loophole allowed… Read More

Google meets with Indonesian officials over tax bill

A source with knowledge of the matter revealed that senior executives from Google’s Asia Pacific office met with Indonesian officials to discuss the company’s potential tax obligation in Indonesia. Google declined to comment on the meeting, but has maintained throughout an ongoing investigation that it continues to cooperate with authorities, and that it has paid… Read More

Facebook enjoyed £11.3 million in UK tax credit

Facebook has been accused of recording £11.3 million in UK tax credit last year, having vowed to pay a fair amount after facing criticism in 2014 for paying just £4,327 in corporation tax. While the social network made $3.7 billion (approx. £3 billion) in profits in 2015, with sales reaching £210 million, it also posted… Read More