Tax penalties also under review
The Charity Commission has published new guidelines setting out its regulatory position on the use of fiscal reliefs available to charities and on the fine distinction between:
The European Council has formally adopted the common anti-abuse clause of the Parent-Subsidiary Directive, following the agreement reached by finance ministers in December.
Legislation will be introduced in Finance Bill 2015 amending ITTOIA 2005 to remove the ‘unfair tax advantage’ provided by B share schemes. Helen Gilbey and Sarah Falk (Freshfields Bruckhaus Deringer) analyse the new rules
HM Treasury has suggested that the government may narrow the notification requirements of, and widen the exclusion for loan relationships for, the proposed diverted profits tax (DPT).
The OECD has released public comments on the BEPS discussion draft on action 14 (making dispute resolution mechanisms more effective). See the 413-page document.
Peter Cussons examines the potential EU law and international issues facing the UK's diverted profits tax.
Laura Charkin and Stephen Pevsner (King & Wood Mallesons) review the rules in the draft Finance Bill 2015
Mark Middleditch (Allen & Overy) provides the monthly round-up of tax developments affecting the City
The government’s new diverted profits tax (DPT), which was initially announced in December’s Autumn Statement and comes into effect on 1 April 2015, was debated in the House of Commons on 7 January 2015.