Chris Morgan provides a update on recent international developments
What’s hot?
This month’s column is dominated by action emanating in one form or other from the EU throwing into focus its ever growing influence over the tax regimes of Member States.
On 16 February the European Commission (EC) announced that it has formally requested the UK to amend two anti-avoidance measures: the transfer of assets abroad legislation and the attribution of gains to members of non-UK resident companies legislation. These rules largely reduce the opportunity for taxpayers to shelter their income and gains from tax by the simple expedient of holding them via an offshore structure. The provisions where they operate pierce the veil of the offshore structures and essentially make them transparent for tax purposes.
The EC views these measures as being ‘disproportionate in the sense that they go beyond what is reasonably necessary in...
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Chris Morgan provides a update on recent international developments
What’s hot?
This month’s column is dominated by action emanating in one form or other from the EU throwing into focus its ever growing influence over the tax regimes of Member States.
On 16 February the European Commission (EC) announced that it has formally requested the UK to amend two anti-avoidance measures: the transfer of assets abroad legislation and the attribution of gains to members of non-UK resident companies legislation. These rules largely reduce the opportunity for taxpayers to shelter their income and gains from tax by the simple expedient of holding them via an offshore structure. The provisions where they operate pierce the veil of the offshore structures and essentially make them transparent for tax purposes.
The EC views these measures as being ‘disproportionate in the sense that they go beyond what is reasonably necessary in...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes: