UK budget contains some transfer pricing surprises
June 23, 2010
The UK coalition government’s first budget contained some provisions that will interest transfer pricing practitioners and cause alarm among the financial industry in particular. It also raised the prospect of a general anti-avoidance rule in the UK.
George Osborne, the chancellor of the exchequer, announced that an annual tax on bank balance sheets will be introduced in the UK on January 1 2011.
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