The European Commission has launched a public consultation seeking views until 10 May 2016 on how the current double taxation dispute resolution mechanisms operate and how they can be improved.
Changes are being made to the International Tax Compliance Regulations, SI 2015/878, with effect from 6 April 2016, creating an obligation on financial institutions to tell their clients:
· that HMRC will soon be getting data on overseas financial accounts;
Andrey Krahmal reports on a US change to tax law which is favourable to venture capital and private equity investors.
The European Commission has required the Netherlands to abolish a corporate tax exemption for six seaports, following an in-depth state aid investigation.
The European Commission has published a summary of the responses received to its consultation on options for requiring further disclosure of corporate tax information at EU level, which ran from June to September 2015.
The Protocol amending the UK/Germany Double Taxation Convention, signed on 17 March 2014, entered into force on 29 December 2015, and has effect in Germany in respect of taxes levied for periods beginning on or after 1 January 2016, and in the United Kingdom for any financial year beginning on or
Jeanette Zaman (Slaughter and May) considers the draft legislation on hybrid mismatch arrangements and discusses their application to commercial transactions and the potential significance of the imported mismatch rules.
Chris Morgan (KPMG) provides your monthly round-up of tax developments in the international arena.