Developments in European and international taxation: a Law Society event
On 7 June, the Law Society held a roundtable discussion on developments in European and international taxation and the possible impacts on the financial services sector. The roundtable was attended by over 17 tax law practitioners.
Participants discussed topics that ranged from corporate interest restrictions and Brexit to developments in US tax reform and potential changes to treaty access. It was highlighted that tax needs to be reflected in the sequencing of Brexit as some tax-related changes will need significant implementation periods. Some participants also noted that cuts in the US corporate tax rate could result in the US becoming more competitive, which could have an impact on banks in the UK, especially in light of Brexit-related uncertainties.
The roundtable was chaired by the Law Society’s director of strategic relationships, Stephen Denyer, and the technical discussions were led by Sandy Bhogal (head of tax at Mayer Brown), Richard Middleton (managing director at the Association for Financial Markets in Europe), and Geoff Pennels (tax policy director for Europe, Middle East and Africa at Citigroup).