In brief

Offshore transfers

The Organisation for Economic 
Co-operation and Development is consulting on a revised version of its report on the taxation of offshore indirect transfers of assets. It follows up responses to the first report published in August 2017. See here.

Peer reviews

The OECD has published seven reports from the second round of exchange of information on peer reviews. These found Guernsey and San Marino compliant while Indonesia Japan the Philippines and the United States were largely compliant. Kazakhstan was rated partly compliant. See here.

Anti-avoidance

Factsheet CC/FS37: general anti-abuse rule and notices of binding explains HMRC’s procedures for issuing notices of binding and bound arrangements opinion notices on tax arrangements it believes have been counteracted under the general anti-abuse rule (GAAR). These are issued to bind arrangements HMRC regards as equivalent to others on which the...