US multinationals are not yet aware of the CCCTB’s potential impact on their business, but they should be. Although the goal of the plan is to reduce the compliance burden for companies, it may not simplify taxation for US groups that have operations in Europe. It is also likely to raise new tax issues for US entities. Erin Kelechava investigates.
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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