UK BEPS Recommendations in Finance (No. 2) Bill 2016 | KPMG | BE

UK: BEPS items included Finance (No. 2) Bill 2016

UK Finance (No. 2) Bill 2016

The UK government on 24 March 2016 published Finance (No. 2) Bill 2016. The bill, once enacted, will implement tax changes previously announced in the Budget 2016 as well as the Autumn Statement 2015 and Summer Budget 2015.


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The Finance (No. 2) Bill 2016 includes measures to incorporate a number of the OECD’s base erosion and profit shifting (BEPS) recommendations such as:

  • A framework for the new interest deductibility regime (BEPS Action 4)
  • Additional recommendations for the new hybrid legislation (BEPS Action 2)
  • Proposals in relation to the withholding of tax on royalties (BEPS Action 6)
  • Updating the UK’s transfer pricing legislation to bring it in line with the OECD guidance (BEPS Actions 8-10)

Read text of the Finance (No. 2) Bill 2016 and explanatory notes on the UK government website.

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