HMRC launches new disclosure facility to combat corporate tax avoidance
HM Revenue & Customs (HMRC) has announced the launch of a new ‘profit diversion compliance facility’ designed to encourage Multinational Enterprises (MNEs) to disclose mistakes and/or non-compliance related to profits diverted from the UK through incorrect transfer pricing arrangements. HMRC are aware that some companies with international operations are diverting profits overseas that should be […]