Hey, a new tax. As a tax adviser, that sounds like pretty good news. (Shame it is so bad for the country, but that's politics for you).
It is clear that the government feels the need to ‘do something’. However, it is much less clear that the diverted profits tax proposals is the best thing to do, as Heather Self (Pinsent Masons) explains.
The Public Accounts Committee held its follow-up hearing on the role
Practitioner views on the Autumn Statement:
Jonathan Bridges (KPMG) examines the key points of the recently announced UK/German proposal for preferential IP regimes
In a development proclaimed by its organisers as ‘a huge breakthrough’, SSE plc became the first FTSE 100 company to be awarded the Fair Tax Mark – a ‘kite mark’ awarded to companies considered to be ‘open and transparent about their tax affairs and seek to pay the right amount of corporation tax
Jeanette Zaman and Emma Game (Slaughter and May) consider whether the conditions for demergers to qualify as exempt distributions are in need of an overhaul
Heather Self (Pinsent Masons) asks if this the end for the ‘double Irish’ structure
The Irish finance minister, Michael Noonan, announced in his Budget statement on 14 October that the government is putting a stop to ‘double Irish’ corporate tax avoidance arrangements – such as those utilised by multinational corporations Apple and Google – by requiring all companies registered
The European Commission has published a letter sent to the Irish government which accuses it of having given illegal state aid to the US technology multinational Apple.