The Finance Bill 2015-16 to 2016-17 completed Report stage in the House of Commons yesterday: see here. Among the amendments accepted by the Government, and therefore incorporated into the Bill, was one tabled by the Rt Hon. Caroline Flint MP. This amendment, number 145, provides the Treasury with power, through Regulations, to require the new group tax strategy report - a public document, which certain large businesses will be required to publish - to include a country by country report (as defined by the Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) Regulations 2016, which do not currently provide for public disclosure).
Tuesday, 6 September 2016
UK: Finance Bill amendment on country by country reporting accepted by the Government
The Finance Bill 2015-16 to 2016-17 completed Report stage in the House of Commons yesterday: see here. Among the amendments accepted by the Government, and therefore incorporated into the Bill, was one tabled by the Rt Hon. Caroline Flint MP. This amendment, number 145, provides the Treasury with power, through Regulations, to require the new group tax strategy report - a public document, which certain large businesses will be required to publish - to include a country by country report (as defined by the Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) Regulations 2016, which do not currently provide for public disclosure).
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