Finance Bill 2016 includes provisions for HMRC to require information on certain state aid issues so that the department can provide it to the European Commission, says Kelly Stricklin-Coutinho (39 Essex Chambers).
Budget 2016 included a tax information and impact note (TIIN) on state aid modernisation (see para 1.75 page 181 of the Overview of Tax Legislation and Rates (OOTLAR)). This proposal set out a measure designed to provide HMRC with additional powers to collect information on specified state aids and to share the information with the European Commission through a legal gateway. The TIIN referred to the European Commission’s state aid modernisation programme of 2012 (COM/2012/0209 final) (‘SAM’).
What’s proposed:
The TIIN notes that HMRC’s current information powers are ‘generally restricted for the purpose of checking a tax position for example checking the amount of the claim is correct or checking a tax position in a...
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Finance Bill 2016 includes provisions for HMRC to require information on certain state aid issues so that the department can provide it to the European Commission, says Kelly Stricklin-Coutinho (39 Essex Chambers).
Budget 2016 included a tax information and impact note (TIIN) on state aid modernisation (see para 1.75 page 181 of the Overview of Tax Legislation and Rates (OOTLAR)). This proposal set out a measure designed to provide HMRC with additional powers to collect information on specified state aids and to share the information with the European Commission through a legal gateway. The TIIN referred to the European Commission’s state aid modernisation programme of 2012 (COM/2012/0209 final) (‘SAM’).
What’s proposed:
The TIIN notes that HMRC’s current information powers are ‘generally restricted for the purpose of checking a tax position for example checking the amount of the claim is correct or checking a tax position in a...
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:
