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Two weeks to 30 May 2019

Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK

HMRC consultation: Offshore receipts - draft regulations and guidance
HMRC is asking for views on draft regulations amending the new Offshore Receipts rules which came into effect on 6 April 2019, that were published on 24 May along with an explanatory memorandum and draft guidance. The consultation closes on 19 July 2019 and PwC will be responding.

Tax treaties updated for MLI
HMRC has published the ‘synthesised’ text of the UK’s double taxation convention with the following countries, as modified by the BEPS multilateral instrument (MLI):

Managing tax risk & implementing robust governance
Managing tax is increasingly not purely a technical challenge, but one that requires skills in technology, project management, leadership and communication.  We in PwC are using our expertise and innovative technology to help our clients understand their obligations and implement effective controls and processes to meet them.  For example, we’ve developed a five step approach to help organisations understand the operational implementation of EU MDR. If you’d like to find out more about how we can help meet some of these challenges, or for a demo of our technology, please contact one of our Tax Reporting and Strategy (TRS) specialists or read more here.