A round up of other news this week.
The Upper Tribunal have refused an application for a referral to the CJEU in the Coal Staff Superannuation Scheme Trustees litigation on withholding tax for manufactured overseas dividends in stock lending transactions, ahead of the Upper Tribunal hearing on the substantive issues. The taxpayer had argued that, in the light of the UK’s impending exit from the EU, a delay in referral to the CJEU could deprive them of the CJEU’s assistance in resolving the questions of EU law at stake in the case. The Upper Tribunal hope appropriate transitional arrangements are put in place which allow a reference by a UK Court post-Brexit where the issue relates to a period prior to a leave date. The case will now proceed to an appeal hearing before the Upper Tribunal.
The House of Commons Library has published a research briefing on the issue of tax avoidance.
The United Arab Emirates has signed up to the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
The draft VAT legislation on the removal of use and enjoyment for certain telecommunication services has been published. This was originally announced at Budget 2017 and comes into effect from 1 August 2017.
The International Tax Compliance (Amendment) Regulations 2017 have been published, which amend the International Tax Compliance Regulations 2015 to bring intro scope additional international exchange agreements. The new Regulations also address identified gaps in the earlier provisions and clarify the application of penalties.
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