Sjoerd Douma & Bob van der Made, PwC, set out the key proposals.
Loopholes in the Parent-Subsidiary Directive (Council Directive 2011/96/EU) exploited by companies avoiding corporation tax are to be closed as part of a European Commission’s action plan to tackle tax evasion. The proposed reforms to the directive include:
The number of tax avoidance schemes disclosed to HMRC has fallen by more than a third in the past year. According to law firm Pinsent Masons, the number of schemes disclosed is at its lowest point since disclosure of tax avoidance schemes (DOTAS) launched in 2004.
HMRC has announced the development of a new SDRT assessment service.
The House of Lords Select Committee, formed on 12 November 2013, is seeking evidence by 31 December 2013 from interested parties on the use of personal service companies and the implications for tax, NIC and wider issues for workers and their clients.
James Bullock and Heather Self of Pinsent Masons talk to Peter Bingle about the role of the Public Accounts Committee.
Jonathan Fletcher Rogers considers whether Aberdeen Asset Management signals the end of tax avoidance on employee benefits.
John Whiting and Caroline Turnbull-Hall of the Office of Tax Simplification look at how the way terms are defined in tax legislation contributes to complexity... or could it be a route to simplification?
The OECD has launched a consultation on a series of minor changes to the OECD Model Tax Convention. The majority are minor editorial or clarificatory changes, but they do include additional commentary on:
The Sixth Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes is being held on 21–22 November 2013 in Jakarta, Indonesia.