CIOT has responded to the OECD’s Public Discussion Draft on transfer pricing for financial transactions, continuing the work of the G20/OECD’s BEPS project under Actions 8 to 10 with the mandate to ‘Align transfer pricing outcomes with value creation’.
With the growing number and variety of cryptoassets such as cryptocurrencies and digital tokens, the tax treatment can be complex and there is increasing need for clear guidance on the tax and accounting issues.
The CIOT, LITRG and ATT have responded to the Treasury Committee’s wide-ranging Inquiry into VAT and its Sub-Committee’s Inquiry into The conduct of tax enquiries and the resolution of tax disputes. In addition to our written responses we have also given oral evidence to the Committees
Spring saw a number of announcements relating to the taxation of the digitalised economy. The CIOT remains engaged with the debate on which governments and the international tax community are firmly focused.
On 28 February 2018, HMRC launched a digital portal for the corporate interest restriction (CIR) aimed at enabling taxpayers to appoint a reporting company and for the reporting company to be able to submit an interest restriction return. Companies can use this portal by logging on with the same credentials that are used to complete their corporation tax return.