Taxation of Foreign Profits
A joint HMT/HMRC discussion document on the taxation of the foreign profits of companies has been published on the HMRC website. According to HMRC, this document sets out a package of proposals for modernising and creating a more straightforward regime for taxing foreign profits.The closing date for responses is 14 September 2007.
A copy of the discussion document is available at http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_ConsultationDocuments&propertyType=document&columns=1&id=HMCE_PROD1_027592.