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Spotlight: commencing tax disputes in Portugal

This article provides an overview of procedures and practical considerations surrounding the commencement of tax disputes in Portugal.

European union directivesJudicial tax courtSupreme administrative courtOrganisation for economicTax arbitration centreEuropean commissionConstitutional courtPublic prosecution serviceVienna conventionEuropean unionCouncil directiveLarge taxpayers unitTax arbitrationBase erosionProfit shiftingEconomic co operation

Retrospective tax rollback is fine, but arbitration of tax matters should be stopped too

Retrospective tax rollback is fine, but arbitration of tax matters should be stopped too
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Vidya drollaHutch indianPranab mukherjeeCairn energySupreme courtAir indiaIncome tax departmentUnited kingdomCamay islandsVodafone indiaIncome tax actFinance ministerArbitration actRetrospective taxIncome tax lawRetrospective tax rollback

$1 4 bn Cairn arbitration award: Sitharaman says its her duty to appeal

Finance Minister Nirmala Sitharaman on Friday indicated the government s intent to appeal against an arbitration panel asking India to return USD 1.4 billion to UK s Cairn Energy Plc, saying it is her duty to appeal in cases where the nation s sovereign authority to tax is questioned. Last year, the government lost two high-profile arbitrations over the levy of taxes on British firms, using legislation that gave it the power to levy taxes with retrospective effect. While the government has already challenged in a Singapore court an international arbitration tribunal verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, it hasn t yet done so against a December 21 award asking India to return the value of shares seized and sold, divided, confiscated and tax refund stopped to adjust a Rs 10,247 crore tax demand on Cairn.

United kingdomUnited kingdom cairn energy plcVodafone group plcFinance minister nirmala sitharamanCairn energy plcNirmala sitharamanCairn indiaTax arbitrationஒன்றுபட்டது கிஂக்டம்ஒன்றுபட்டது கிஂக்டம் கெய்ன் ஆற்றல் ப்ல்வோடபோன் குழு ப்ல்கெய்ன் ஆற்றல் ப்ல்கெய்ன் இந்தியாவரி நடுவர்

Oyu Tolgoi LLC provides information on its tax payments

2021-01-12 11:36:12 Ulaanbaatar /MONTSAME/. On 22 December 2020, Oyu Tolgoi LLC received a Tax Assessment claim for approximately US$228 million from the Mongolian Tax Authority (MTA), relating to an audit of taxes paid by Oyu Tolgoi LLC between 2016 and 2018. The MTA has also sought to reduce Oyu Tolgoi’s carried-forward tax losses by around US$1.5 billion. On 11 January 2021, Oyu Tolgoi LLC issued a press release regarding the tax matters, which reads, “Oyu Tolgoi LLC consistently recognized as one of the largest taxpayers in Mongolia. It has paid more than MNT5.8 trillion (approximately US$2.8 billion) in taxes, royalties and fees to the Government of Mongolia since 2010.”

Omnogov aymagOyu tolgoiMongolian national mining associationRio tintoKhanbogd emergency committeeDevelopment planMinistry of healthGobi oyu development support fundMongolian tax authorityTurquoise hill resources companyUmnugovi emergency committeeTax assessmentTurquoise hill resourcesOyu tolgoi investment agreementUnderground development planPricing guidelines