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 outcome of the consultation after such a long process.
The issues addressed in this article are:
● whether we are yet in...
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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 outcome of the consultation after such a long process.
The issues addressed in this article are:
● whether we are yet in...
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:
