The UK government has published Finance Bill 2016, implementing tax changes announced at Budget 2016, Autumn Statement 2015, and Summer Budget 2015.
The bill published March 24, cuts the corporation tax to 17 percent by 2020, introduces new rules to address hybrid mismatch arrangements, and adds withholding tax provisions to ensure that payments for the use of intellectual property based overseas are subject to tax.
Other rules ensure that profits from the development of UK property are always subject to UK tax and target online VAT evasion by overseas sellers and online marketplaces.
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