Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill introduced into Parliament

On 22 November 2013, the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill was introduced into Parliament. The Bill includes the following reforms:

Thin capitalization

The Bill proposes changes to the thin capitalization rules by:

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extending the rules to apply to companies controlled by a group of shareholders who are acting together and own 50% or more of …