Daily Tax Report: International

United Kingdom Parliament Considers Statutory Instrument to Clarify Financial Instruments for Hybrid Mismatches

Oct. 21, 2019, 6:26 PM

The United Kingdom Parliament Oct. 15 accepted for consideration a statutory instrument to implement an EU directive clarifying the definition of financial instruments for hybrid mismatch arrangement purposes. The draft instrument includes: 1) reporting procedures for tax periods that fall outside the effective date range, and 2) the exclusion of certain financial instruments. The measures generally take effect for payments from Jan. 1, 2020, to Jan. 1, 2023. The statutory instrument enters into force Jan. 1, 2020. [United Kingdom, Government Legal Database, 10/15/19]

View Announcement. View Statutory Instrument No. 1345. View Explanatory Note.

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