Two weeks to 24 January 2020
Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.
Brexit insights
The European Union (Withdrawal Agreement) Bill 2019-20 has now completed its progress through Parliament and will soon pass into law, ushering in a Brexit transitional arrangement (closing on 31 December 2020). We continue to update our material, so you can follow how Brexit is now expected to unfold and identify what you should be doing to prepare. Visit our Beyond Brexit webpage for the latest updates.
Implementation of EU MDR in the UK
On 13 January 2020, final regulations to implement EU Directive 2018/822 on the mandatory disclosure and exchange of cross-border arrangements were laid before Parliament - known as EU MDR or DAC6. They are expected to become law within a few weeks. Read more.
HMRC publish policy paper on legislation for double taxation dispute resolution
HMRC have published a policy paper and laid regulations relating to legislation resolving tax disputes arising from the interpretation and application of tax treaties between the UK and Member States. This measure builds on the UK’s network of bilateral tax treaties with other Member States and on the existing Convention on the elimination of double taxation in connection with the adjustment of associated enterprise.
