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In June 2017, Ireland's CT system was ranked as one of the world's largest Conduit offshore financial centers (OFCs) (i.e. places that act as links to tax havens), [14] in March 2018 the Financial Stability Forum ranked Ireland as the 3rd largest Shadow Banking OFC, [15] and in June 2018 tax academics calculated that Ireland was the world's ...
In August 2016, Revenue became central to the proposed application of what would have been the largest recorded tax fine in history. [8] Following an investigation of Apple's transfer pricing arrangements with Ireland, [9] the EU Commission initially found that Revenue had given rulings to Apple that amounted to €13 billion in State Aid.
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
Together with the House Tax and the Window Tax, they came to be known as the 'assessed taxes' and were intended as a progressive form of taxation on the wealthy. [5] Income tax was introduced in various forms in 1797, 1799, 1803 to 1816, and then reintroduced in 1842 as an annual tax which is formally renewed in each year's Finance Act.
Following reports [6] [7] of conflict between HMRC and the Government Digital Service (GDS), HMRC has been developing its own service which allows users to sign in using an existing Government Gateway user ID. [5] HMRC will begin migration from the Government Gateway to the One Login For Government, a new system being developed by GDS, during 2023.
HM Customs and Excise (properly known as Her Majesty's Customs and Excise at the time of its dissolution) was a department of the British Government formed in 1909 by the merger of HM Customs and HM Excise; its primary responsibility was the collection of customs duties, excise duties, and other indirect taxes.
Since the EU order in 2016, Ireland has made a number of changes to its corporate tax code and did the once unthinkable by dropping opposition to giving up its prized 12.5% corporate tax rate as ...
Under UK tax legislation, tax payers are obliged to notify HMRC when they have a liability to tax no later than 9 months after the end of the tax year in which they became liable. Depending on the circumstances and the tax owed, they may do this by registering for self assessment and completing a tax return by January 31.