UK signs new tax agreement with Malaysia
Another tax information exchange sealed by the government
Another tax information exchange sealed by the government
HMRC has signed a new tax information exchange agreement with Malaysia.
Stephen Timms, financial secretary to the Treasury, sealed the deal with the
High Commissioner of Malaysia H.E. Datuk Abd. Aziz Mohammed.
Timms, who today hinted strongly that the government was planning a further
crackdown on tax avoidance, will submit a draft order for consideration by the
House of Commons. The protocol will come into force once both countries have
completed their legislative procedures, becoming effective from next year. It
updates the exchange of information Article of the existing Agreement to bring
it into line with current OECD standard and practice.
Further reading
Timms
heralds “new world” of pain for tax cheats
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...
View articleThe revised guidance sets out the circumstances under which trustees need to disclose the identities of beneficiaries to HMRC Read More...
View articleHMRC's new leader claims that customer service levels are on the up Read More...
View articleThe government department made a very costly administration error in a letter to a tax avoidance user Read More...
View articleHMRC assessed the company for over £50,000 of underpaid VAT relating to the hire of the hotel’s Tamarisk Room Read More...
View articleThe number of investigations into high-value big companies that HMRC suspect of using transfer pricing to avoid tax has fallen by 15% in a year Read M...
View articleHMRC launches a consultation document that looks to strengthen government efforts against transfer mispricing Read More...
View articleHMRC taskforces have recovered more than £500m since they were launched five years ago Read More...
View article