Three weeks to 4 July 2019
Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.
UK CFC State aid case - webcast recording on latest developments
In our 19 June webcast, our tax and legal specialists discussed the latest developments in this case and what you should be doing to prepare for the recovery process which HMRC will be starting very soon. Watch the recording here.
HMRC consultation: Double Taxation Dispute Resolution (EU) Regulations
HMRC is consulting until 27 August 2019 on draft regulations to implement the new ‘Directive on tax dispute resolution mechanisms in the EU’ in UK law. The Regulations would support an improved mechanism to tackle double taxation within the EU by introducing a more robust system of dispute resolution involving member states. They would also strengthen affected taxpayers’ rights in the UK and allow them, among other things, to bring complaints about double taxation disputes and to make requests for the purposes of resolving those disputes.
Sharing of beneficial ownership information with Crown Dependencies and overseas territories
The government has published its 18-month statutory review of the arrangements with the Crown dependencies and overseas territories for sharing information on beneficial ownership of companies. The review makes seven recommendations, the first of which is that all registers should be completed by the end of 2020 at the latest.