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22 May 2020
Scotland bans bailouts for tax haven companies

Dear subscriber,

More developments on the issue of tax conditions for companies seeking government support during the covid-19 crisis. 

The Scottish Parliament this week legislated to ban companies with links to tax havens from receiving coronavirus bailouts.

Our report, Paying In Equally, covered the issue of bailout conditionality and set out a package of reforms aimed at meeting the government’s goal of ensuring that all who benefit from state support pay in on an equal basis. These reforms go beyond refusing cash to companies based in tax havens. 

US pressured to come to an agreement on global tax reform as countries increasingly take taxes on digital services into their own hands
Global tax reform in deadlock

US multinationals have been criticised for stalling progress towards an international agreement on tax reform aimed at curbing tax avoidance by large tech companies, reports MNE Tax.

Pascal Saint-Amans, who is coordinating international talks, recently warned US multinationals that delay would not be in their interests as a number of countries were poised to take unilateral action and impose a digital services taxes (DST) in the absence of global agreement.  

The latest country to announce a DST is the Philippines, which this week began to consider plans to introduce a tax to “better capture value created by the digital economy and have the likes of Netflix, Google, Facebook, and Lazada 'pay their fair share'.

Writing in the Financial Times Marietje Schaake, International Policy Director at Stanford's Cyber Policy Center, said the US will have to play a more constructive role and ensure progress on digital taxation at the next G20 meeting. 




M & A Solicitors, 

38 Coney Street, 

York, North Yorkshire, 

England, YO1 9ND

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