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International review for September

International review for September

Tim Sarson’s latest summary of international developments.

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Tim Sarson

Partner, Value Chain Management

KPMG in the UK

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Brexit has made a re-appearance in the headlines with a further round of UK-EU negotiations taking place and the UK agreeing its first major trade deal with Japan. While much uncertainty remains around the nature of the UK’s future trading relationship with the EU, it is clear there will be significant changes, particularly for importers and exporters and businesses must resume preparations urgently. Over in the US, final regulations have been published in respect of the base erosion and anti-abuse tax regime. Helpful changes have been made which limit the potential scope. The OECD has meanwhile been busy working behind the scenes on taxation of the digital economy ahead of upcoming meetings in October and November. Finally, Tim Sarson looks at the OECD’s annual report on tax policy trends. It is particularly interesting to see common themes in how governments around the world have responded to the challenges of COVID-19.

In the latest of his regular articles for Tax Journal*, Tim Sarson looks back at some of the interesting developments that unfolded over the past month in the international tax arena. This month’s article includes updates on the following:

  • The end of the Brexit transition period;
  • Changes to the US base erosion and anti-abuse tax regime;
  • Taxation of the digital economy; and
  • OECD tax policy trends. 

* First published by Tax Journal on 25 September 2020. Reproduced with permission.

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