Measures to increase tax transparency will bring the international tax system into the modern age, the UK government declared at the close of the G8 leaders’ summit in Northern Ireland.
The UK’s corporation tax system is about right, tax lawyers said in evidence to the House of Lords economic affairs committee on 4 June, but they broadly supported the OECD’s initiative to address ‘base erosion and profit shifting’.
A new EU law requiring multinationals to report profits and taxes on a country by country basis may be introduced within a few months, reports have suggested after the European Council agreed to strengthen measures to tackle tax evasion and avoidance.
Cross-border loss relief
The FTT rejected an attempt to take advantage of the derivative contract group transfer rules. Kevin Conway offers an analysis
Simon Whitehead takes a view of the latest stage of a claim for group relief for losses
James Bullock looks at the activist group's failed attempt to challenge HMRC
Tax campaigners insisted on Tuesday that the OECD’s review of the international tax system should not rule out the option of unitary taxation, while leading tax professionals warned that such a regime would create significant practical difficulties.
Robin Walduck and Peter Scholes explain the need for tax input into the decisions groups are taking on UK GAAP conversion.
Pete Miller answers a query about the taxation of demergers