A tax headache

edward222 · Apr 29, 2015

Credit to: Offshore News Flash: http://www.offshorenewsflash.com/20...f-scotland-gets-more-powers-from-westminster/

Most people have heard of the Organisation for Economic Co-operation and Development (OECD) and are probably aware it wants to make the world a better place. Its work is probably of little interest to most companies based in the UK. But this would change if constitutional arrangements between Scotland and the rest of the UK change. This could be through independence, but equally through Scotland gaining full fiscal autonomy or even taking control of corporation tax.

In such circumstances, tax residence would become a big issue for companies operating in both jurisdictions. They would have to seek advice to avoid being taxed twice, make sure they were taxed in the most favourable regime and reduce business complexity by aiming to deal with only one tax authority. Meanwhile Scotland and the rest of the UK would have to sign a double-taxation treaty to standardise the tax position for such companies.
What the OECD convention says
Click to expand...

Oppss, another double taxation treaty.

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A tax headache

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A tax headache

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