International tax

Tax / McDonald's Luxembourg deal did not break tax rules

A lengthy investigation by the European Commission has concluded that Luxembourg did not offer illegal state aid to McDonald’s with favourable tax treatments, and the reason for the double non-taxation was down to a mismatch between Luxemburg and US tax rules

Tax / Starbucks under fire over 2.8% UK tax rate

Starbucks has come under further fire over its tax policies after analysis showed the US chain’s European business paid just $5.9m (£4.47m) of tax in the UK on profits of $213m (£161m) last year

Tax / OECD updates guidance on country-by-country reporting

The OECD’s inclusive framework on base erosion and profit shifting (BEPS) has released additional interpretive guidance to give certainty to tax administrations and multinationals on the implementation of country-by-country reporting (CBCR), which is action 13 in its plan to tackle tax avoidance

Tax / Republicans move to pass Tax Bill 2.0 before mid-terms

Republicans in the US House of Representatives have proposed more deficit-expanding tax cuts in a bid to garner votes before the mid-term elections on 6 November 2018

Tax / Scotch Whisky Association calls for spirit duty freeze

Nearly three-quarters of Scots believe that the tax imposed by HMRC on Scotch Whisky should be at least as competitive as European taxes on flagship food and drink products, according to a poll commissioned by the Scotch Whisky Association

Tax / OECD says corporate tax rates in ‘race to the average’

Tax reforms are accelerating worldwide, with the trend towards pushing down corporate tax rates in order to boost investment gaining momentum over the last two years, according to analysis from the OECD

Tax / Q&A: non-resident capital gains tax

Angela Robson, tax consultant at Croner Taxwise, considers whether a non-resident UK homeowner is liable for capital gains tax when selling a UK residential property and whether there are any tax reliefs available

Tax / HMRC to take on football clubs in tax match

Despite some high-profile run-ins between elite football players and the taxman, while football club finance directors remain concerned about tax compliance risks, few are expecting difficulties in defending any actions HMRC may take, according to analysis by BDO

Tax / Labour mulls digital giant media tax

Labour leader Jeremy Corbyn has indicated his party is considering the introduction of new taxes on digital media providers in order to provide funding for more traditional media outlets including local newspapers and broadcasters and ensure a ‘free and democratic’ media

Tax / What’s changing: CGT overhaul for non-residents

Capital gains tax is being extended to non-residents for gains arising from property and land sales in the UK from April 2019. Stephanie Webber ACA CTA, specialist tax writer at Croner-i, examines the draft rules and potential pitfalls 

Tax / Profit fragmentation rules set for overhaul

As the government rapidly finalises new rules on profit fragmentation, Lindsey Wicks, tax writer at Croner-I Tax & Accounting, considers the significance of the proposals, particularly the notification requirement which could net thousands of high net worth individuals and business owners

Tax / Requirement to correct (RTC): the final countdown for taxpayers

As the deadline for requirement to correct notifications for offshore income and assets approaches, Lucy Brennan, partner at Saffrey Champness, examines the compliance issues before new tax penalties bite from 30 September

Tax / FCA consults on global financial innovation network

The Financial Conduct Authority (FCA) is consulting on plans to create a global financial innovation network (GFIN), in collaboration with 11 financial regulators and related organisations, which will build on its proposal earlier this year to create a ‘global sandbox’ for new concepts and finance models

Tax / HMRC power grab as offshore time limits extended to 12 years

Dawn Register, partner in the tax dispute resolution team at BDO LLP considers the implications of the extension of the offshore time limit to 12 years and the increasing powers of HMRC as data from the Common Reporting Standard starts to flood in from global tax jurisdictions

Tax / Spike in HMRC investigations into high net worth raises £1.2bn

The amount of tax increased from the top earners and wealth creators in the country has increased by nearly a third in the last year following a spike in HMRC investigations