A propos de Gide
Fondé à Paris en 1920, Gide est l’un des principaux cabinets d’avocats internationaux.
International
Gide intervient dans de nombreux pays et est implanté dans six régions du monde, avec 11 bureaux.
Fondé à Paris en 1920, Gide est l’un des principaux cabinets d’avocats internationaux.
Gide intervient dans de nombreux pays et est implanté dans six régions du monde, avec 11 bureaux.
Some big changes in a very mixed Budget delivered earlier this week.
There were some clearly positive announcements - among them an additional future reduction in the rate of corporation tax (falling to 17% by 2020).
However, the UK government appears emboldened in its continued drive against perceived avoidance by the presence of a new ally: the OECD.
The OECD’s “Base Erosion and Profit Shifting” (BEPS) project is proving fertile ground for the government on which to base multiple anti-avoidance measures directed at multi-national groups (the still-fresh “diverted profits tax” being one of the most obvious examples of this phenomenon).
Thus in this Budget we say goodbye to the UK’s previously generous regime for the deductibility of interest payments, and we welcome in its place the OECD-backed strict limitation on deductibility.
Another pillar of the UK tax system to disappear in the Budget is the unrestricted ability to use carry forward losses to reduce current profits. A limit will now be imposed on this too.
And finally no modern Budget would be complete without measures specifically targeting the banking sector; this one is no exception.
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