The EU Parliament’s committee on economic and monetary affairs has issued its report on the Commission’s proposal for a directive on double taxation dispute resolution mechanisms in the EU. The Commission published its proposal on 25 Oct 2016, as part of the latest corporate tax reform package.
Malaysia has become the 94th country to join the BEPS inclusive framework, which provides a forum for countries representing varying levels of development to participate on an equal footing in the OECD’s committee on fiscal affairs.
The government has published a group of regulations commencing the latest changes to the offshore penalty regime.
Following consultation, the Offshore Funds (Tax) (Amendment) Regulations, SI 2017/240, disallow the deduction of performance fees incurred by offshore reporting funds in calculating UK investors’ reportable income, for reporting periods commencing on or after 1 April 2017.
The House of Commons international trade committee has reported on its inquiry into the different potential models for UK international trade after the UK leaves the EU.
The Institute of Economic Affairs (IEA) has published a briefing calling for taxes including CGT, stamp duty, council tax, business rates and IHT to be abolished, offering a number of alternatives in their place. These include:
HMRC has published the following:
Exchange losses allowable
Pensions chargeable payments and the reasonableness test
Should a closure notice state the tax liability?