There is public outrage at ‘flagrant’ tax avoidance schemes, the barrister leading the GAAR study group has told Tax Journal, but any proposed general anti-avoidance rule ‘must not have any significant detrimental effect to the attractiveness of the tax regime’.
Graham Aaronson QC talks to Tax Journal editor, Paul Stainforth, about the progress of the study into a general anti-avoidance rule
The Finance Bill completed its report stage in the House of Commons on 5 July. Amendments to the following clauses and schedules were agreed:
Richard Clarke and Jessica McLellan provide this month's update on recent HMRC activity, including HMRC's extension of their EBT settlement proposal, a refinement in HMRC's approach to the largest partnerships and record keeping requirements for non-residents using the new statutory residence test
Your monthly review of key international tax issues by Chris Morgan, with comment on the patent box and CFC proposals and the informal consultation on the debt cap, and details of recent cases on EU issues
‘The Dutch banking industry has attacked government plans to impose a €300m annual tax on Dutch banks, arguing that any such levy should be introduced across the European Union rather than by individual countries …
The House of Commons report stage continued yesterday. No amendments were made to the Finance Bill but there were some interesting exchanges on capital allowances and group filing for companies, and a surprise ‘impact assessment’ for the Tax Personality of the Year award.