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Foreign Profits Next Steps

Peter Maybrey and Peter Cussons both PricewaterhouseCoopers LLP partners take a look at the current status of discussions on the taxation of foreign profits of companies
Responses to the joint Treasury and HMRC discussion document of 21 June 2007 on the taxation of foreign profits of companies were requested by 14 September. Alongside key representative bodies like the CIOT and ICAEW Tax Faculty PricewaterhouseCoopers put forward comments and as authors we are both aware of other submissions (of various businesses and other organisations). So far there has been no further public announcement from the Treasury or HMRC but informal consultation has been continuing.
What will happen next?
While ministers will make the final...

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