The month in tax

. KPMG in the UK summarises recent corporate tax developments of potential interest to FITAR readers

Article reprinted from Weekly Tax Matters. Copyright © 2011 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. Reprinted with permission of KPMG LLP (UK). All rights reserved. All information provided is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the facts of a particular situation. For additional news and information, please access KPMG LLP’s website on the internet at www.kpmg.co.uk.

Update: Informal consultation on tax treaties anti-avoidance

Tax treaties anti-avoidance consultation withdrawn

As mentioned in September’s FITAR, a technical note setting out draft legislation aimed at countering avoidance schemes that exploit the provisions of double tax agreements was published by HMRC on 1 August 2011. The scope of the draft legislation was potentially very wide and could impact on genuine commercial arrangements.