COMMENT: Ahead of this month's G20 meetings in Cairns, Joe Hockey, Australian Treasurer, has reiterated the Abbott government's plans to clamp down on aggressive tax planning. But, like other jurisdictions including the UK, Hockey's rhetoric on attracting investment risks opening him up to accusations of trying to reconcile two opposing policies.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap