UK signs new tax agreement with Malaysia

UK signs new tax agreement with Malaysia

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

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In 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 resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In 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 resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The 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 resource