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ARTICLE · 20 DECEMBER 2013

Tax: A Year in Review

Maples Group
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International tax took centre stage and was front page news across the world in 2013.

IrelandTax
Andrew Quinn
Andrew Quinn
William Fogarty
William Fogarty
David Burke
David Burke
Lynn Cramer
Lynn Cramer
Fearghal McVey
Fearghal McVey
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International tax took centre stage and was front page news across the world in 2013. It is crucial for businesses to monitor and react to trends in tax policy which is evolving rapidly with the globalisation of business, the digital economy and the need for revenue raising by western economies.

International Developments

The key themes in 2013 were:

  1. Information exchange: 2013 saw on-going developments with regard to the US Foreign Account Tax Compliance Act ("FATCA") regime and UK FATCA agreements between the UK and Jersey, Guernsey and the Isle of Man (the "Crown Dependencies") and British Overseas Territories.
  2. Reputation: Tax has moved from being a technical topic to one which is now part of general debate by the international community. There are many competing viewpoints in this debate – commentators, other governments etc – and both business and governments need to consider the wider picture when formulating policy or planning for the future.

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