Finance (No.2) Act 2015 introduced a surcharge of 8% on the taxable profits of banking companies arising on or after 1 January 2016.
Finance (No.2) Act 2015 introduced a surcharge of 8% on the taxable profits of banking companies arising on or after 1 January 2016. Per HMRC’s updated guidance on the diverted profits tax (DPT) there have been consequential amendments to the DPT legislation to apply DPT at a rate of 33% in cases where taxable diverted profits would have been subject to the surcharge. See www.bit.ly/12Qn0GK.
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Finance (No.2) Act 2015 introduced a surcharge of 8% on the taxable profits of banking companies arising on or after 1 January 2016.
Finance (No.2) Act 2015 introduced a surcharge of 8% on the taxable profits of banking companies arising on or after 1 January 2016. Per HMRC’s updated guidance on the diverted profits tax (DPT) there have been consequential amendments to the DPT legislation to apply DPT at a rate of 33% in cases where taxable diverted profits would have been subject to the surcharge. See www.bit.ly/12Qn0GK.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
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