The UK’s diverted profits tax was initially thought to be ‘a big stick that never actually gets wielded’, but that has proved to be far from the case. HMRC has already collected £138m from the first wave of charging notices, and significantly more is expected. Almost 200 DPT notifications were made by multinational groups in 2015 and 2016, and HMRC is also investigating groups that have not yet notified.
The UK’s diverted profits tax was initially thought to be ‘a big stick that never actually gets wielded’, but that has proved to be far from the case. HMRC has already collected £138m from the first wave of charging notices, and significantly more is expected. Almost 200 DPT notifications were made by multinational groups in 2015 and 2016, and HMRC is also investigating groups that have not yet notified.
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