HMRC released a Guidance on the upcoming implementation of the Multilateral Instrument (MLI), which has not yet come into force in UK. The Guideline includes two documents, that is (1) Provisional List Of UK Reservations And Notifications Under The MLI As Made At Signature, and (2) Proposed Changes To The Provisional List of UK Reservations And Notifications Under The MLI As Made At Signature.
With the provisional list file, the UK competent authority clarifies expected reservations and notifications to be made by the UK pursuant to Articles 28(7) and 29(4) under the MLI. Amendments are detailed article by article under the MLI to:
The proposed changes to the provisional list file details amendments the Government intends to make to the provisional list file. It corrects errors in the original notifications, lists omitted agreements from the original list and agreements that have been signed since the signature of the MLI. It also removes countries that have made tax treaty modifications provided by the MLI through a bilateral arrangement.
The OECD has announced that MLI enters into force on July 1, 2018, and the MLI will enter into force in the UK on the first day of the month following the expiration of a period of 3 calendar months beginning on the date of the deposit by the UK of its instrument of ratification, acceptance or approval.
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):