Hey, a new tax. As a tax adviser, that sounds like pretty good news. (Shame it is so bad for the country, but that's politics for you).
Chris Morgan (KPMG) provides an update on recent international developments, including: the CJEU’s release of the AG opinion on the UK rules on cross-border group relief following Marks & Spencer; EU finance ministers’ agreement on an extended information exchange mechanism; Ireland’s 2015 Budget announcement on the ‘double Irish’ tax structure; corporation tax reform III in Switzerland; and the Centrica case in India.
Heather Self considers the changes made to the Model Tax Convention (MTC) and what these updates mean in practice.
Scottish independence would raise a host of new challenges for the UK tax system. Dominic Robertson considers the likely impact.
A round up of other tax news:
The monthly round-up by Chris Morgan, with news from the OECD’s BEPS project, two CJEU cases and the latest from France, India and Chile
Mark Eaton and Alastair Munro suggest that the wording of the draft legislation is too wide and may limit claims to double tax relief in circumstances where that does not appear to be intended
Colin Garwood, head of group tax at InterContinental Hotels Group, provides an industry view on BEPS related issues and responds to a recent call for a top-up tax.
John Watson, former head of tax at Ashurst, with assistance of Martin Precious, reviews the options for reform of the international taxation of corporate profits, in view of the OECD's action plan on tackling base erosion and profit shifting.
The following draft Orders in Council have been laid before the House of Commons for approval: