In the recent UK budget, the Chancellor of the Exchequer confirmed the introduction of a new diverted profits tax (DPT). Against the context of international co-operation in the OECD-led consultation on ways to ensure profits are taxed where they are generated — the Base Erosion and Profit Shifting Project (BEPS) — this unilateral action on the part of the UK government came as a surprise.
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What are the implications of the UK’s diverted profits tax on asset finance?
Shipowners need to realise the new modification is not just a ‘Google tax’ on tech firms, writes Angela Savin, partner at global legal practice Norton Rose Fulbright
27 March 2015 0:00 GMT
Updated
27 March 2015 0:00 GMT