ey-global-tax-policy-outlook-for-2015

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United Kingdom 2.9 Country position on OECD Base Erosion and Prot Shifting (BEPS) Action Plan • arrangements. The new tax is intended to apply from 1 April intended to apply to large multinational enterprises with business activities in the UK who enter into “contrived” contrived arrangements between connected entities. • A consultation document was issued in relation to the hybrid mismatch arrangements. The proposals largely work is required e.g., regulatory capital. The new rules are proposed to apply to payments made from 1 January 2017, but no grandfathering provisions are proposed. • The UK also made a statement on 20 September 2014 commit to implementing the new country-by-country reporting template. The UK had initiated the country-by- project to strengthen international standards on BEPS. 2.10 Pending tax proposals • contained many tax policy announcements. These will generally be legislated in the Finance Bill 2015: • • Increase in the tax-free personal allowance • Corporation tax — bank loss relief restriction • • Corporation tax relief restriction on self-incorporation • Business rates —cap increase at 2% in 2015–16 • Employer Social Security — abolish for apprentices under 25 • Business rates — small business relief extension and retail discount • Enveloped dwellings — increase charge for properties over £2m • Air passenger duty — exempting children • Non-domiciles — increase remittance basis charge • • • Investment managers’ disguised fee income • Corporation tax — accounting treatment of credit losses • Stamp duty on shares — schemes of arrangement • Corporation tax —anti-hybrids changes and country by country reporting • Special purpose share schemes • • Peer-to-peer lenders — relaxing the withholding tax regime • • 188 | The outlook for global tax policy in 2015
United Kingdom 2.11 Consultations opened/closed • Multiple consultations are in progress, including: • Tackling aggressive tax planning: implementing the agreed arrangements • Implementing a capital gains tax charge on nonresidents • Individual savings accounts qualifying investments: consultation on including peer-to-peer loans • Travel and subsistence review • Minimum excise tax for tobacco • Restricting nonresidents’ entitlement to the UK personal allowance • Tax-free childcare: consultation on childcare account provision • reimbursed expenses • Remuneration practices: call for evidence • payrolling • Tax-free childcare • • A bank levy banding approach • Tackling marketed tax avoidance • Venture capital trusts share buy-backs • Raising the stakes on tax avoidance • Theatre tax relief • Maximizing economic recovery: consultation on a cluster area allowance • Freedom and choice in pensions • • New employee shareholding vehicle • Social investment tax relief: enlarging the scheme • Tax-advantaged venture capital schemes: ensuring continued support for small and growing businesses • exemption • The outlook for global tax policy in 2015 | 189
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The outlook for global tax policy i
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Tax twists and turns For more than
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where cuts in VAT rates were initia
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What were the highlights of 2014 fo
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Forecast of tax policy trends for 2
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The strong focus on the tax treatme
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in the formation of tax policy in 2
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Italy Japan 6/2 of the 29 countries
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to understand; if governments are g
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Messages for business We are now we
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This is probably going to turn out
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Actions for business to consider Ag
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Connect with us The outlook for glo
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Americas Tax policy Tax controversy
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Tax policy Tax controversy New Zeal
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EMEIA Tax policy Tax controversy Eu
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EMEIA Tax policy Tax controversy Sl
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Country outlooks The outlook for gl
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The outlook for global tax policy i
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Australia The following election go
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Australia 2.3 Tax policy outlook fo
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Australia 2.10 Pending tax proposal
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Brazil 2.2 Fiscal consolidation vs.
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Brazil 2.5 Fiscal stimulus in 2015
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Canada 2 | 2015 tax policy outlook
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Canada 2.3 Tax policy outlook for 2
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Canada 2.9 Country position on OECD
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Chile 2.2 Fiscal consolidation vs.
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Chile Taxes on wages and employment
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Chile 2.11 Consultations opened/clo
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China 2 | 2015 tax policy outlook
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China • • Top marginal persona
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China 2.4 Tax policy outlook for 20
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China 2.10 Pending tax proposals
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Czech Republic 2 | 2015 tax policy
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Czech Republic 2.5 Fiscal stimulus
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Denmark 2.2 Fiscal consolidation vs
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Denmark 2.7 Current tax policy and
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Finland 2.2 Fiscal consolidation vs
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Finland 2.8 Key tax policy changes
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France 2.2 Fiscal consolidation vs.
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France exceeds €1 million. Remune
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Germany 2 | 2015 tax policy outlook
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Germany 2.4 Tax policy outlook for
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Germany 2.9 Country position on OEC
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Greece 2.2 Fiscal consolidation vs.
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Greece 2.7 Current tax policy and t
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Hungary 2.2 Fiscal consolidation vs
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Hungary 2.5 Fiscal stimulus in 2015
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India 2 | 2015 tax policy outlook 2
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India 2.4 Tax policy outlook for 20
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India • Action 8 • The Indian t
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Ireland 2.2 Fiscal consolidation vs
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Ireland 2.8 Key tax policy changes
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Ireland 2.11 Consultations opened/c
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Italy 2 | 2014 tax policy outlook 2
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Italy 2.7 Current tax policy and ta
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Japan 2.2 Fiscal consolidation vs.
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Japan • • for each stock owne
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Japan 2.9 Country position on OECD
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Luxembourg 2 | 2015 tax policy outl
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Luxembourg 2.4 Tax policy outlook f
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Luxembourg 2.10 Pending tax proposa
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Malaysia 2 | 2015 tax policy outloo
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Malaysia 2.3 Tax policy outlook for
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Malaysia 2.9 Country position on OE
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Mexico 2.2 Fiscal consolidation vs.
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Mexico 2.7 Current tax policy and t
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Netherlands • Additionally, the C
Page 139 and 140: Netherlands 2.4 Tax policy outlook
Page 141 and 142: Netherlands exemption, the tax tre
Page 143 and 144: New Zealand 2.2 Fiscal consolidatio
Page 145 and 146: New Zealand 2.6 Political landscape
Page 147 and 148: Poland 2.2 Fiscal consolidation vs.
Page 149 and 150: Poland 2.5 Fiscal stimulus in 2015
Page 151 and 152: Portugal 2 | 2015 tax policy outloo
Page 153 and 154: Portugal 2.4 Tax policy outlook for
Page 155 and 156: Russia 2 | 2015 tax policy outlook
Page 157 and 158: Russia 2.4 Tax policy outlook for 2
Page 159 and 160: Russia 2.9 Country position on OECD
Page 161 and 162: Slovak Republic 2.2 Fiscal consolid
Page 163 and 164: Slovak Republic VAT, GST and sales
Page 165 and 166: South Africa 2.2 Fiscal consolidati
Page 167 and 168: South Africa 2.8 Key tax policy cha
Page 169 and 170: South Korea 2.2 Fiscal consolidatio
Page 171 and 172: South Korea 2.6 Political landscape
Page 173 and 174: Spain 2.2 Fiscal consolidation vs.
Page 175 and 176: Spain 2.5 Fiscal stimulus in 2015
Page 177 and 178: Switzerland 2.2 Fiscal consolidatio
Page 179 and 180: Switzerland 2.5 Fiscal stimulus in
Page 181 and 182: Thailand • Continued sluggish eco
Page 183 and 184: Thailand 2.4 Tax policy outlook for
Page 185 and 186: Thailand 2.10 Pending tax proposals
Page 187 and 188: United Kingdom 2.2 Fiscal consolida
Page 189: United Kingdom 2.5 Fiscal stimulus
Page 193 and 194: United States • There is a desire
Page 195 and 196: United States 2.4 Tax policy outloo
Page 197: United States • Committee • C
Page 200: EY | Assurance | Tax | Transactions
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