UK HMRC has issued a release highlighting the success of the Diverted Profits Tax introduced in 2015 to address profit diversion.
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The Diverted Profits Tax (DPT) has revolutionised the government’s approach to countering arrangements intentionally used by some multinational corporations to shift their profits abroad and avoid paying tax they rightly owe in the UK.
DPT was introduced specifically to change behaviour – only being charged where businesses aren’t paying the right tax in …