Plans to introduce tough new rules to curb interest deductibility are taking shape as HMRC publishes draft legislation on the new regime for restricting the amount of interest and other financing amounts that a company can deduct when calculating profits for corporation tax purposes, effective April

The OECD is seeking feedback on a draft toolkit designed to assist developing countries in work on transfer pricing, which specifically addresses the ways developing countries can overcome a lack of data on ‘comparables’, or the market prices for goods and services transferred between members of multinational corporations

HMRC has announced a technical consultation on plans to withdraw four extra-statutory concessions (ESCs), three of which concern VAT rates for computer systems and for sports clubs, while the fourth relates to accounting periods for retail co-operative societies