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Relaxed Tax Disclosure Rules Poised to Give U.K. Investment Bump

Jan. 5, 2021, 7:01 AM

The U.K. government’s move to relax its tax disclosure requirements post Brexit could open the door to more inward investment, tax advisers say.

The disclosure requirement, included in the European Union’s sixth directive on administrative cooperation (DAC 6), mandates a reporting obligation for cross-border tax arrangements if they are within scope, no matter whether the arrangement is justified according to national law.

The rules ceased to apply in the U.K. when the trade agreement signed by Boris Johnson’s government and the EU received royal assent on Dec. 30. Companies in the U.K. will now only have to report under DAC ...