Bernd Schlenther, senior manager at the South African Revenue Service (SARS), analyses governance initiatives relating to illicit flows, taking into account the recent impact of measures to counter base erosion and profit shifting (BEPS).
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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