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In brief: BEPS; OECD model tax convention; DTAs; guidance

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BEPS update

The OECD has published a revised timetable of forthcoming consultations and discussion drafts scheduled for 2014 in connection with its action plan on BEPS. This updates the version released in December 2013. The G20 finance ministers, who met in Australia last weekend, restated their commitment to fighting profit shifting by multinational corporations to avoid paying tax.

OECD model tax convention

The OECD has published comments received on two discussion drafts, covering proposed changes to the provisions of the OECD Model Tax Convention dealing with the operation of ships and aircraft in international traffic and technical changes to be included in the next update to the model convention.

Double tax treaties

HMRC has announced the following:

  • UK/Brunei Darussalam double taxation agreement: An agreement amending the treaty entered into force on 19 December 2013.
  • UK/USSR double taxation agreement: HMRC has announced an update on the application of the treaty in relation to Tajikistan.

HMRC guidance

HMRC has issued the following publications, which are available from its website:

  • Employer Bulletin 46;
  • Capital gains tax indexation allowance for November and December 2013;
  • Revised notice 143: A guide for international post users;
  • Inheritance tax forms: IHT 205 (return of estate information), IHT 217 (claims to transfer unused nil rate band for excepted estates, and IHT 206 (Notes on the completion of IHT 205); and
  • Two Customs information papers: A revised C&E 810 will shortly be available on HMRC’s website for applications/authorisations to use inward processing. Revised forms will shortly be available on HMRC’s website to enable importers to claim relief from duty and VAT when importing decorations, awards or inherited goods.
Issue: 1206
Categories: News