Around the World | News

Millionaires face tax crackdown

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Anybody worth more than £1m faces coming under scrutiny from inspectors in a fresh crackdown on tax avoidance announced by Liberal Democrat Treasury Chief Secretary Danny Alexander. The move will mean 200,000 more people will be targeted by HM Revenue and Customs' affluence unit, set up originally to study the affairs of the 300,000 with assets and property of more than £2.5m. Mr Alexander, speaking to the Mail on Sunday at the start of the Lib Dems' annual conference in Brighton, said officials would "sniff out" anybody who was not paying their fair share of tax. Read more.

 

Developing transfer pricing laws in Africa

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“Since 2001 we have seen an average GDP growth across the region in excess of 5%,” Karen Miller, Ernst & Young’s Africa sub-area transfer pricing leader said at the firm’s 2012 Africa Tax Conference last week. “That is significant when we look at what is happening in the rest of the world. We have also seen increased investment from multinationals coming into Africa, coming in through South Africa as the hub into the rest of Africa or directly into the African region.”

These positive developments have meant that African tax administrations are becoming more aware that effective transfer pricing rules are necessary to ensure that multinationals report and pay tax on the correct proportion of profits they make in Africa. Yet there are a number of issues surrounding the complexity of transfer pricing. Read more.

 

Malawi Council of Churches and other faith groups commit to combat climate change and population growth

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Climate ChangePopulation growth, says Malawi faith groups, is a key ingredient to devastating climate change effects – calling for concerted multi-faith action to address the situation in Malawi with haste. Faith groups met in Kasungu at Chikho Hotel agreed that unless they join government and other local and international stakeholders in fighting environmental degradation, mostly as a result of Malawi’s population boom, the country and God’s earth stand to face even bigger climatic challenges. Read more .

 

Do Today’s christians ask wrong questions?

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MANZINI  In commemoration of the International Day for Peace last Friday, The Council of Swaziland Churches met at The George Hotel for a symposium. The information-charged meeting was also graced by the Anti-Corruption Commission (ACC) personnel and members of the Council of Swaziland Churches’ executive committee. The discussions forced those in attendance to question how corruption could be a contributor to the spread of HIV/AIDS and how the church had lost its way in being a good example of morality.

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Let there be work, bread, water and salt for all. Nelson Mandela