The International Tax Enforcement (Macao) Order, SI 2015/801, will bring into effect the UK/Macao tax information exchange agreement, signed on 3 September 2014. The agreement has not yet entered into force.
The US Internal Revenue Service (IRS) has confirmed, in FAQs, that only direct reporting non-financial foreign entities (NFFEs) are required to submit nil reports for FATCA.
Draft amending regulations will prevent UK businesses taking into account supplies made by foreign branches in their VAT partial exemption calculations, irrespective of any special method agreed with HMRC, following the CJEU decision in Crédit Lyonnais.
The EC has published a report assessing how member states have applied the rules relating to the supply of telecommunications, broadcasting and electronic services and the mini one-stop shop (MOSS).
The Finance Bill rules on the diverted profits tax (DPT) incorporate changes made in response to the informal consultation on that topic.
VAT reduced rate and e-books
Allan Cinnamon provides an update on tax treaty developments
HMRC updated its registration guidance to remind filers of the need to wait approximately 24 hours after registering before filing a FATCA return.
The UK and Senegal signed a new double taxation convention on 26 February 2015. This convention has not yet entered into force.
The OECD has now published comments received on last December’s discussion drafts of two new elements of the OECD international VAT/general sales tax (GST) guidelines.