Internationally coordinated efforts to update taxation rules have never been stronger. With these changes come new challenges for taxpayers. Brian Tully, vice president and head of ONESOURCE Transfer Pricing for the Tax & Accounting business of Thomson Reuters, explains why embracing transparency and technology will stand taxpayers in good stead for future reforms.
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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