Chris Morgan (KPMG) provides a review of recent international tax developments that matter.
The Finance Bill rules on the diverted profits tax (DPT) incorporate changes made in response to the informal consultation on that topic.
Finance Bill 2015 was published on Tuesday 24 March. The Bill contains 127 clauses, 21 Schedules and runs to 340 pages.
OUR PICK
HMRC has made welcome changes to the new diverted profits tax, which takes effect from 1 April. As a result, the tax should not disrupt commercially based planning supported by economic substance, writes Shiv Mahalingham (Duff & Phelps).
Keith Gregory (NGM Tax Law) answers a query on the taxation of a hive down of a business.
Two changes particularly catch the eye, one welcome and one not so, writes Mike Lane (Slaughter and May).
HMRC has carried out some spring cleaning on its GAAR guidance. This and other recent developments affecting the City are reviewed by Mark Middleditch (Allen & Overy).
The PAC continued its inquiry over the role of HSBC’s private Swiss bank in facilitating tax avoidance and evasion with a heated two-hour hearing on Monday 9 March.
Peter Cussons examines the potential EU law and international issues facing the UK's diverted profits tax.