NEWS

The UN Secretary-General has published his final report on inclusive and effective international tax co-operation. The report provides a critique of the OECD two-Pillar reforms, pointing out that the OECD is dominated by the most wealthy developed...

HMRC now intends to launch its online form for requesting details of overlap profits for the purpose of basis period reform on 11 September 2023, rather than 29 August as previously announced. HMRC has updated its various guidance pages accordingly,...

The Treasury has launched a call for evidence on the evolving context of oil and gas production and how the design of the tax regime affects activity in the sector. The review will consider the effectiveness (or otherwise) of the existing fiscal...

England’s second investment zone will be in the Liverpool City region with a focus on encouraging investment into the region’s life science, research and innovation sector.As has been widely publicised, tax incentives to attract investment in...

HMRC has updated its guidance to reflect the definition of insurance, confirmed by the CJEU in United Biscuits (Pension Trustees) Ltd and another v HMRC [2020] STC 2169. That decision upheld the definition given by the CJEU in Card Protection Plan...

HMRC has issued revised advisory fuel rates from 1 September 2023. The rates are used where employers either reimburse employees for business travel in their company cars or require employees to repay the cost of fuel used for private travel.The main...

The Finance (No 2) Act 2023, Schedule 19 (Trade Remedies) (Appointed Day and Savings) Regulations, SI 2023/918, bring F(No 2)A 2023 Sch 19 into force on 25 August 2023. Schedule 19 introduces new provisions relating to the investigation of...

In a detailed response to HMRC’s consultation Reform of UK law in relation to transfer pricing, permanent establishment and diverted profits tax the CIOT welcomes simplification proposals but urges caution in a number of areas:Transfer pricing:Rather...

Following its decision to unilaterally suspend its double taxation agreements, Russia has rejected the UK’s request to reverse the suspension, on grounds that it considers the economic measures imposed by the UK and others in response to Russia’s...

Tunisia has deposited its instrument of ratification for the BEPS Multilateral Instrument (MLI), which now covers around 1,850 bilateral tax treaties. The MLI will enter into force on 1 November 2023 for Tunisia and will apply to the 1982 UK-Tunisia...