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Private use of leased cars
The European Commission has published its proposal for extension of the UK’s VAT directive derogation permitting a 50% input tax deduction for leased cars not used entirely for business purposes. The current derogation expires on 31 December.
Belize
ECOFIN has moved Belize to the lower-risk annex II of the EU list of non-cooperative tax jurisdictions. The Republic of North Macedonia has been removed from the list entirely.
Offshore receipts
The ITTOIA 2005 (Amendments to Chapter 2A of Part 5) Regulations SI 2019/1452 amend the offshore receipts in respect of intangible property rules introduced by FA 2019 which tax multinational groups’ income from intellectual property held in low-tax jurisdictions to the extent that income refers to UK sales. The amendments which are wholly relieving have effect from 6 April 2019 while the others will apply only to amounts arising on or after...
