Tim Sarson (KPMG) reviews the latest developments in the international tax world.
After months of uncertainty we finally found out this month what is happening with the Finance Bill measures that were dropped before the general election. These are all to be included in a second Bill to be published after the summer recess (so not quite the ‘summer’ Finance Bill promised in the Queen’s speech). We were also told that the commencement dates for these measures would remain as originally set out; so for example the new corporate interest restriction is effectively in force now (as it has a 1 April 2017 commencement date) but with no Parliamentary scrutiny of the legislation possible until the autumn. To keep our appetites whetted however updated draft legislation has been published for certain measures including:
the corporate interest restriction rules;
...
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Tim Sarson (KPMG) reviews the latest developments in the international tax world.
After months of uncertainty we finally found out this month what is happening with the Finance Bill measures that were dropped before the general election. These are all to be included in a second Bill to be published after the summer recess (so not quite the ‘summer’ Finance Bill promised in the Queen’s speech). We were also told that the commencement dates for these measures would remain as originally set out; so for example the new corporate interest restriction is effectively in force now (as it has a 1 April 2017 commencement date) but with no Parliamentary scrutiny of the legislation possible until the autumn. To keep our appetites whetted however updated draft legislation has been published for certain measures including:
the corporate interest restriction rules;
...
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:
