Latest Tax Law rewrite Bills
The Tax Law rewrite project has resulted in two further draft tax Bills relating to Corporation Tax and International Tax.
The Corporation Tax Bill will substantially complete the rewrite of the corporation tax code. It includes provisions relating to losses and gifts to charities, group relief, distributions and avoidance.
The Taxation (International and Other Provisions) Bill includes provisions relating to double tax relief, transfer pricing, advance pricing agreements and tax arbitrage. It also relocates and where appropriate rewrites some provisions to make them more accessible.
The Tax law rewrite project is currently consulting informally a number of representatives from accountancy, legal and business organisations about the support and scope for future rewrite work.