Chris Morgan (KPMG) provides a review of recent international tax developments that matter.
The last month has seen few developments on the OECD’s action plan on base erosion and profit shifting (BEPS) as we await the publication of a number of new discussion drafts in the next few weeks. Attention in the UK instead turned to the chancellor’s Budget on 18 March.
The most significant item for international groups was the update on the diverted profits tax (DPT) proposals but there was little detail provided at the Budget and at the time of writing the revised legislation in the Finance Bill has not yet been published. The Budget did indicate where changes are to be made including: a welcome narrowing of the requirements to notify HMRC that the DPT rules apply; reordering and in some places tightening the conditions to clarify the targets of the legislation; extending...
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Chris Morgan (KPMG) provides a review of recent international tax developments that matter.
The last month has seen few developments on the OECD’s action plan on base erosion and profit shifting (BEPS) as we await the publication of a number of new discussion drafts in the next few weeks. Attention in the UK instead turned to the chancellor’s Budget on 18 March.
The most significant item for international groups was the update on the diverted profits tax (DPT) proposals but there was little detail provided at the Budget and at the time of writing the revised legislation in the Finance Bill has not yet been published. The Budget did indicate where changes are to be made including: a welcome narrowing of the requirements to notify HMRC that the DPT rules apply; reordering and in some places tightening the conditions to clarify the targets of the legislation; extending...
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:
