Two weeks to 15 May 2020
Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.
Responding to the business impacts of COVID-19
As the international response continues, how can you prepare your organisation and respond? Visit our global crisis centre webpage and our COVID-19 hub on TheSuite continue to keep up to date on this topic. Of particular relevance to multinational companies operating in the UK:
Double Taxation Treaty Passport scheme register updated
The Double Taxation Treaty Passport Scheme register has been updated with 28 additions and 3 changes. See this HMRC page.
EC proposals to defer EU MDR and CRS deadlines due to COVID-19
Due to the COVID-19 pandemic, on 8 May 2020, the European Commission published a proposal for a Council Directive amending Directive 2011/16/EU on administrative cooperation in the field of taxation (DAC). The proposed Directive sets out deferrals of the reporting and exchanging of information deadlines for financial account information under DAC2 (EU Common Reporting Standard, CRS) and for mandatory disclosure rules under DAC6 (EU MDR). Read more.