The CIOT has responded to HMRC’s review of double tax treaties, noting the following key points:
additional guidance in respect of the multilateral instrument’s new articles from the UK’s treaty partners would be useful;
following Brexit and the end of the transition period, the UK’s DTAs with EU member states may become less competitive when compared to the Directives operating between EU countries. The CIOT welcomes this acknowledgement and that priority is to be given to renegotiating European DTAs; and
the treaties with Germany and Italy are the most important to seek to renegotiate, due to the size of their economies.
The CIOT has responded to HMRC’s review of double tax treaties, noting the following key points:
additional guidance in respect of the multilateral instrument’s new articles from the UK’s treaty partners would be useful;
following Brexit and the end of the transition period, the UK’s DTAs with EU member states may become less competitive when compared to the Directives operating between EU countries. The CIOT welcomes this acknowledgement and that priority is to be given to renegotiating European DTAs; and
the treaties with Germany and Italy are the most important to seek to renegotiate, due to the size of their economies.
