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07 August 2018

UK Tax Authority releases transfer pricing and diverted profits statistics

Figures released by HM Revenue & Customs (HMRC), the United Kingdom (UK) Tax Authority, on July 31, showed it raised £1,682m from transfer pricing (TP) adjustments in the tax year 2017-18. This was corporation tax either directly from TP adjustments or as result of "behavioural change" across the large business population triggered by the diverted profits tax (DPT). The tax raised is slightly above the figure for 2016-17 (£1,618m) and is a historic high, reflecting the current environment for the UK and indeed international TP controversy.

A Global Tax Alert, attached below, provides additional details.

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Document ID: 2018-1590

 

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