Chris Morgan provides an update of global developments
What’s hot? Corporate tax reform
My last column of 2010 was written just before the flurry of activity from the government at the end of the year. Most notably we saw the updated road map on corporate tax reform along with five associated consultation documents published on 29 November and then the draft clauses for Finance Bill 2011 published on 9 December. Much has been written about the content of these documents so I will simply provide an update on where things currently stand.
Both the new foreign branch exemption and the Controlled Foreign Company (CFC) interim improvements are to be included in Finance Bill 2011 which is scheduled to be published on 31 March. The consultation on the draft legislation closes on 9 February and it is currently unclear whether we will see any update on these items in the Budget...
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Chris Morgan provides an update of global developments
What’s hot? Corporate tax reform
My last column of 2010 was written just before the flurry of activity from the government at the end of the year. Most notably we saw the updated road map on corporate tax reform along with five associated consultation documents published on 29 November and then the draft clauses for Finance Bill 2011 published on 9 December. Much has been written about the content of these documents so I will simply provide an update on where things currently stand.
Both the new foreign branch exemption and the Controlled Foreign Company (CFC) interim improvements are to be included in Finance Bill 2011 which is scheduled to be published on 31 March. The consultation on the draft legislation closes on 9 February and it is currently unclear whether we will see any update on these items in the Budget...
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:
