Last week’s publication of Finance Bill 2013 confirmed the UK is to introduce a General Anti-Abuse Rule (GAAR) later this year. But there is no consensus that the proposed measure is necessary or that it will be effective. One criticism is that legislators have not taken on board the lessons learnt in other jurisdictions such as Australia, Canada, New Zealand and South Africa.
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The sprawling legislation phases out Joe Biden-era green tax incentives for businesses; in other news, the UK will reportedly maintain its DST despite US pressure
New French legislation should create a more consistent legal environment for taxing gains from management packages, say Bruno Knadjian and Sylvain Piémont of Herbert Smith Freehills Kramer