Weekly Tax Brief - 5 October 2015

In this edition of RSM’s weekly round-up of the most important Tax news, we look at the latest package of measures by the OECD designed to crackdown on tax avoidance by multi-nationals…

The end of tax avoidance as we know it?

05 October 2015

So the OECD has delivered its final package of reports on its Base Erosion and Profit Shifting (BEPS) project. So what does this mean for the large multinationals, and is there is a danger that smaller business with international operations could end up being easy targets for the tax authorities?

Tax officials get to see the global tax cake

05 October 2015

As a result of the OECD’s crackdown, companies will now be required to take part in ‘country-by-country reporting’ which will give tax authorities information about where they make their profits and also where they pay their taxes. But there’s a downside for businesses too, as well as a potential knock-on effect for smaller companies that don’t need to submit documentation…

Patent Boxing not so clever

05 October 2015

The UK’s Patent Box – a tax relief available to companies that patent inventions – has been judged by the OECD as a harmful tax practice. It’s now in line for a revamp which will be a blow for many genuinely innovative companies.

Interest headache for business … and Mr Osborne

05 October 2015

Successive UK governments have sought to increase the attractiveness of the UK as a place to do business by maintaining favourable tax relief for interest payments. However, the BEPS proposals could lead to a significant reduction in this relief in the UK causing a particular headache for private equity or venture capital businesses, as well as the Chancellor…

Action 8 and intangibles – and what does this mean for the digital economy?

05 October 2015

The OECD has finalised its shake-up of the rules and definitions around intangibles. So what are intangibles and what do multinationals need to do now?

New rules to prevent hybrid mis-matches

05 October 2015

In today’s announcement, the OECD has confirmed its view on tackling hybrid arrangements. But the impact will be felt by UK companies…