2011 review: international corporate taxes

This article looks at five of the more important developments in international corporate tax in 2011.

1. Debt Cap

Iincluded the introduction of the Worldwide Debt Cap in my year end round-up for 2010. I am including it again because 2011 saw the introduction of many of the practical aspects of the regime for groups affected.

The rules provide that a group may appoint an authorised company to act as the reporting body for the group for the purposes of submitting any statements of allocated disallowances and statements of allocated exemptions. The application to appoint an authorised company has to be made no later than nine...