Draft legislation was published yesterday in respect of the new Diverted Profits Tax (which has, in the UK, become quickly known as the 'Google Tax'): see here (pdf). The main objective of the new tax is described by the Government in these terms: to counteract contrived arrangements used by large groups (typically multinational enterprises) that result in the erosion of the UK tax base.Update (12 December 2015) - further guidance has been published and is available here (pdf).
Showing posts with label diverted profits tax. Show all posts
Showing posts with label diverted profits tax. Show all posts
Thursday, 11 December 2014
UK: The Diverted Profits Tax - draft legislation published
Draft legislation was published yesterday in respect of the new Diverted Profits Tax (which has, in the UK, become quickly known as the 'Google Tax'): see here (pdf). The main objective of the new tax is described by the Government in these terms: to counteract contrived arrangements used by large groups (typically multinational enterprises) that result in the erosion of the UK tax base.Update (12 December 2015) - further guidance has been published and is available here (pdf).
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