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United Kingdom

This week the Biden administration has run into opposition over a proposal for a federal gas tax holiday, while the European Parliament has approved a plan for an EU carbon border mechanism.
Tax professionals have urged suppliers of goods from Great Britain to Northern Ireland to pause any plans to restructure their supply chains following the NI Protocol Bill.
HM Revenue and Customs said the UK pillar two legislation will be delayed until at least December 2023, while ITR reported on a secret Netflix settlement and an IMF study on VAT cuts.
The UK has opted to raise a 25% levy on the profits of energy companies to fund a relief package for households amid the cost-of-living crisis. Meanwhile, the OECD’s plans for tax reform have stalled.
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