Changes to how the U.K. carries out its controversial “Google tax” will give a small reprieve to global companies it targets: more time to challenge tax assessments.
Multinationals charged with the hefty 25 percent “Google tax” now have 15 months, rather than 12 months, to negotiate their tax bills with the U.K.'s tax authority, Her Majesty’s Revenue and Customs. The measure goes into immediate effect.
But it also gives the tax authority more time to approve deals, practitioners told Bloomberg Tax.
The internal approval process is designed “to guard against HMRC doing or being seen to do sweetheart deals with...