Tax experts insist that ‘most big companies have no interest in bending the rules’, The Sunday Times reported yesterday. Barclays had 'failed to sense a prevailing mood against tax avoidance’, according to the paper.
Aggressive tax planning using international ‘tax arbitrage’ is a growing concern and governments should consider introducing or revising tax laws to deny the benefits of ‘hybrid mismatch arrangements’, the OECD has concluded in a new report.
Barclays insisted that its tax arrangements were within ‘the letter and spirit’ of HMRC’s Code of Practice on Taxation for Banks after the government announced retrospective legislation to close two ‘highly abusive’ tax avoidance schemes.
An updated ‘Gateway’ features in HM Treasury’s latest update on CFC reform, published yesterday.
James Wilson sets out a risk-based approach to the rules.
Mike Lane explains why the regime may be susceptible to challenge under EU law.
Aurell Taussig provides a flowchart on the new regime.
Martin Lambert and Zoe Wyatt provide a practical guide.
Michael Bird and Jonathan Bridges examine IP issues.