UK: Consultation on the Corporate Capital Loss Restriction
On 29 October 2018 the government published a consultation document in relation to a restriction on the offset of corporate capital losses. The government is inviting comments from companies likely to be affected by the capital loss restriction and
See MoreUK: Consultation on Consideration Rules for Stamp Taxes on Shares
On 7 November 2018 the UK government published a consultation paper entitled Stamp Taxes on Shares: Consideration Rules requesting comments from interested parties on changes to the Stamp Duty and Stamp Duty Reserve Tax (SDRT) consideration rules.
See MoreUK: Finance (No 3) Bill 2018 published
The Finance (No 3) Bill 2018 was published on 7 November 2018. The second reading of the Bill in Parliament took place on 12 November 2018. When it has completed its passage through Parliament the Bill will become the Finance Act 2019 . The Bill
See MoreUK: Summary of responses on consultation on public sector licensing
On 7 November 2018 the UK government published a summary of responses to the consultation entitled Tackling the hidden economy: public sector licensing, launched in December 2017. Consultation document The original consultation document examined
See MoreUK: Responses to consultation on ensuring tax compliance by users of online platforms
On 7 November 2018 the UK government published a summary of responses to a consultation on the role of online platforms in ensuring tax compliance by their users. The government received 41 written responses with comments from online platforms,
See MoreUK: Summary of responses to consultation on tax abuse and insolvency
On 7 November 2018 the UK government published a summary of responses to the consultation on tax abuse and insolvency held earlier in 2018. In April 2018 the government issued a consultation document exploring ways to combat the deliberate abuse of
See MoreUK: Summary of responses to consultation on corporate intangibles regime
On 7 November 2018 the UK government published a summary of responses to the consultation on reforms to the corporate intangibles regime. The corporate intangibles regime was introduced in 2002 and provided companies with relief for the cost of
See MoreUK: Budget Proposals for 2018
The UK budget proposals for 2019/20 were announced on 29 October 2018. Proposed measures include the following: Digital services tax The digital services tax will apply to large tech companies with global revenues of more than GBP 500 million per
See MoreUK: Digital services tax to be introduced
The UK Budget announcements on 29 October 2018 included a proposed new tax on large digital services companies such as search engines, social media platforms and online marketplaces. The tax would take effect from 1 April 2020. The digital services
See MoreNorway: Finance Minister presents National Budget 2019
The Minister of Finance, Siv Jensen, presented the draft National Budget 2019 on October 8, 2018 to the Parliament. The presentation of the budget will be followed by a cycle of parliamentary hearings and debates on the budget, which will last until
See MoreZambia: Finance Minister presents National Budget 2019
On 28 September 2018, Zambia’s Minister of Finance, Hon. Margaret Mwanakatwe presented the 2019 National Budget to Parliament. The time period for making transfer pricing assessment may be raised for a period exceeding 6 years but not exceeding 10
See MoreUK: Date of autumn budget 2018 announced
The UK has announced that the autumn budget proposals will be announced on 29 October 2018. The date is earlier than in previous years and appears to have been moved forward to avoid coinciding with important talks on Brexit that take place in
See MoreUK: Think tank urges government to scrap entrepreneurs’ tax relief
In the autumn budget to be announced later in 2018 the UK government is expected to increase government spending in certain areas including health. This has given rise to speculation as to what tax increases might be required to provide the extra
See MoreFinland: Ministry of Finance officially submits its budget proposal for the year 2019
On 9 August 2018, the Ministry of Finance officially submitted its budget proposal for next year 2019. The budget introduced changes to the CFC definition and applicable exemptions, including reducing the control threshold for a company that
See MoreSpain publishes budget act of year 2018
On 4 July 2018, the Spanish Government published Law 6/2018 (the Budget Law 2018) in the Official Journal. The law implementing the fiscal measures from the fiscal year 2018 entered into force on 5 July 2018. Budget contains changes to the patent
See MoreKenya: Budget for 2018-19
Kenya’s Treasury Cabinet Secretary submitted the 2018-19 Budget on 14th June 2018. Government’s big four agenda of creating jobs, transforming lives and sharing prosperity and supporting the construction of at least 50,000 affordable houses by
See MorePakistan enacts Finance Bill 2018
The Finance Bill, 2018 was passed by the government on 22 May 2018, with some amendments. The Bill provides for the implementation of the measures proposed as part of the 2018-2019 Budget. The main measures are summarized as follows: Corporate
See MoreTanzania: Finance Minister presented 2018-19 Budget
Tanzania: Finance Minister presented 2018-19 Budget 19 June 2018 The Minister of Finance and Planning, Hon. Dr. Philip I. Mpango, presented the 2018/19 Budget on June 14, 2018 to the national assembly. Some key points of the budget are given
See More