Following the European Commission’s announcement that the Belgian excess profit tax scheme is not compatible with state aid rules, James R Modrall (Norton Rose Fulbright) considers the practical implications of the decision.
Tax advisers have welcomed the government’s decision to restrict the use of a new ‘strict liability’ offshore tax evasion criminal offence to situations where the amount of tax underpaid is £25,000 or more.
A new UK-wide HMRC taskforce has been launched to target adult club owners and adult entertainers who have not paid their taxes.
A new HMRC publicity campaign has been launched to remind taxpayers with undeclared offshore income that the Liechtenstein and Crown Dependency disclosure facilities will close in December 2015, to be replaced by a tougher penalty regime and new methods for exchanging financial account informatio
HMRC is consulting until 27 January 2016 on the role of cash in facilitating tax evasion and non-compliance, and trends towards other forms of payment which are likely to change that role. See www.bit.ly/1Q0FBVY.
Unsuccessful loan relationship avoidance scheme
Financial Secretary to the Treasury, David Gauke, answers questions from Tax Journal on tax competitiveness and tackling avoidance.
Jill Gatehouse and Susanna Brain (Freshfields Bruckhaus Deringer) provide an expert practitioner review of the OECD’s initiative to tackle base erosion and profit shifting.