A round up of other news this week.
A new publication prepared by KPMG’s EU Tax Centre Country by country reporting: an EU perspective serves as a useful guide to understanding new country by country (CbC) reporting requirements in the post-BEPS environment.
HMRC have confirmed that partnerships will be included as reporting entities for CbC reporting and regulations on this will follow in the autumn.
Following an earlier consultation, on 3 August 2016 the All-Party Parliamentary Group (APPG) on Responsible Tax published its first report: “A more responsible global tax system or a ‘sticking plaster’? An examination of the OECD’s Base Erosion and Profit Shifting (BEPS) process and recommendations”.
The UK-Senegal tax treaty has been published. It was signed on 26 February 2015 and entered into force on 30 March 2016.
The EU Commission has reported that an updated version of the VAT Mini One Stop Shop (MOSS) report has been published. This provides information on certain national rules applied in Member States for the businesses using MOSS. The overview document has also been updated. This includes definitions and explanations on the scope of the report as well as VAT rate, invoicing and use and enjoyment.
HMRC and HM Treasury have released guidance on what childcare providers should know about Tax Free Childcare.
KPMG’s Employers’ Club will be holding a webinar on Tuesday 9 August at 10am. Tony Gilbert and Caroline Johnson will be looking back at the recent AGM season and discussing the key issues for executive reward. To register, click here.
The Tax Matters Digest consultation tracker for August can be found here.
With new research suggesting that onerous recruitment processes and poor communication by businesses are leaving millennials disillusioned and frustrated when applying for graduate jobs, KPMG in the UK has introduced Launch Pad, a new streamlined approach which combines the traditional three stages of first interview, assessment centre and final interview into a single day.
KPMG in the UK’s Fraud Barometer has highlighted almost £6m worth of fraud in the first half of the year in which fraudsters hijacked charitable donations, pocketing the donations or the Gift Aid for themselves.