A working group of the European Council has been discussing the technical aspects of a common consolidated corporate tax base (CCCTB) in the EU. Even if a decision to go ahead may not be imminent, multinational companies should not miss out on the opportunities a CCCTB may present, says Cristina Stiefken of the London School of Economics.
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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