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The latest addition to our series of brief insights into the workings of the UK and supranational bodies reviewing the taxation of digitalisation of business

27 June 2022 - Pillar 1 overarching consultation imminent?

There are rumours that the next Pillar 1 consultation will be a “package” of the Pillar 1 building blocks and may come as soon as the week beginning 4 July - in the run-up to the G20 Foreign Ministers’ Meeting, which will be held in Bali on 7-8 July. This package will likely be yet another non-consensus document with updates to previously released building blocks and additional building blocks that have yet to be consulted on.

24 June 2022 - India issues guidelines on WHT on crypto assets

The Indian tax authorities have issued Guidelines in relation to the requirement introduced by the Finance Act 2022 with effect from 1 July 2022 for a specified person who is responsible for paying consideration to any resident for transfer of a virtual digital asset (VDA), to deduct an amount equal to 1% of such sum as income tax.