International accord a ‘nail in the coffin’ for corporate tax avoidance schemes, says City lawyer
Multinationals that exploit tax treaties must ‘recognise that the game is up’ after a new cross-border agreement designed to crack down on tax dodging was signed this week.
More than 70 countries have concluded negotiations on a multilateral instrument that will implement changes to thousands of tax treaties to halt abuse by companies and improve dispute resolution.
The agreement is intended to end a practice known as ‘treaty shopping’, whereby a corporation’s income is directed to countries with attractive tax treaties via ‘brass plate’ companies with little presence within the jurisdiction.
This article is part of our subscription-based access. Please pick one of the options below to continue.
Already registered? Login to access premium content
The Corporate IP Licence is tailored to your firm, making it the most cost effective way for the firm to access Solicitors Journal, and enables the firm to remain compliant with copyright and our Terms and Conditions. This gives you the ability to print and circulate articles within the firm.
To enquire about a Corporate IP Licence for your firm, please contact our Subscriptions Manager on firstname.lastname@example.org.