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Foreign Profits Consultation

An update by Gay Deuchar, a partner in Ernst & Young's International Tax Services team, on the current status of the taxation of foreign profits following recent HM Treasury announcements

 
An update by Gay Deuchar a partner in Ernst & Young's International Tax Services team on the current status of the taxation of foreign profits following recent HM Treasury announcements
 
The formal discussion process on the taxation of foreign profits commenced in early 2007 and the process has been lengthy and wide-ranging involving many meetings and iterations and a few dead ends. It is appropriate and welcome that the Treasury has taken time to consult and revisit its policy given the magnitude and impact of some of the proposed changes. However multinationals may be forgiven for wanting some certainty on the...

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