Sara Luder of Slaughter and May looks at the draft Code of Practice on tax for banks
On 29 June the Government finally published its much anticipated consultation document on the proposed Code of Practice on Tax for Banks. Whilst it is clearly for each bank to decide whether to adopt the Code the Government has stated that it intends that the Code should be adopted by all banks operating in the UK and by any similar organisations undertaking banking activities. This objective will only be achieved if the scope of the Code is reasonable and certain. This consultation process will therefore be crucial to the success of the Code.
Why are banks being singled out?
The very...
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Sara Luder of Slaughter and May looks at the draft Code of Practice on tax for banks
On 29 June the Government finally published its much anticipated consultation document on the proposed Code of Practice on Tax for Banks. Whilst it is clearly for each bank to decide whether to adopt the Code the Government has stated that it intends that the Code should be adopted by all banks operating in the UK and by any similar organisations undertaking banking activities. This objective will only be achieved if the scope of the Code is reasonable and certain. This consultation process will therefore be crucial to the success of the Code.
Why are banks being singled out?
The very...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
