The new Act will be important where there appears to be different tax treatment of competing businesses, writes George Peretz KC (Monckton Chambers), but there is also real concern about enforcement.
The Subsidy Control Act 2022 (SCA 2022) came into force for most practical purposes on 4 January 2023. Since then there have been two important FTT judgments and a clutch of reports by the Competition and Markets Authority (CMA) as well as the creation of a number of ‘streamlined routes’. What have we learnt so far about the new regime?
A brief summary
In my previous article (see ‘Tax implications of the Subsidy Control Bill’ Tax Journal 1 October 2021) I set out the implications of what was then the Subsidy Control Bill for tax practitioners. In essence the SCA 2022 implements obligations under the UK/EU Trade and Cooperation Agreement...
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The new Act will be important where there appears to be different tax treatment of competing businesses, writes George Peretz KC (Monckton Chambers), but there is also real concern about enforcement.
The Subsidy Control Act 2022 (SCA 2022) came into force for most practical purposes on 4 January 2023. Since then there have been two important FTT judgments and a clutch of reports by the Competition and Markets Authority (CMA) as well as the creation of a number of ‘streamlined routes’. What have we learnt so far about the new regime?
A brief summary
In my previous article (see ‘Tax implications of the Subsidy Control Bill’ Tax Journal 1 October 2021) I set out the implications of what was then the Subsidy Control Bill for tax practitioners. In essence the SCA 2022 implements obligations under the UK/EU Trade and Cooperation Agreement...
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:
