The House of Lords EU external affairs sub-committee has published its report on the impact of tariffs, non-tariff barriers, administration costs, and preferential agreements with third countries on leaving the EU. The key findings of the report are:
HMRC has published the following:
Payments to EBTs
Cross-border mergers and procedural requirements
The parent-subsidiary directive and nil-rate corporation tax
Piercing the corporate veil
The Halifax doctrine and the burden of proof
Privacy application dismissed
Cutting the headline rate of corporation tax has led to stronger economic growth and higher profitability for companies across the UK, with corporation tax receipts increasing by 28% since 2011/12, according to the Centre for Policy Studies (CPS).
The European Commission is consulting until 31 May 2017 on updating the rules governing administrative co-operation in tackling cross-border VAT fraud in the EU. This is the latest in a group of four consultations forming part of the Commission’s action plan on VAT, launched in April 2016.