UK Parliament Committee Questions HMRC's Authority to Enforce Anti-Avoidance Regulation Included in CbC Rules

In a recently published report from the UK Parliament Select Committee on Statutory Instruments, the Committee questions whether HMRC has the authority to enforce the anti-avoidance regulation (regulation 21) included in the final Country-by-Country (CbC) reporting regulations issued on 26 February 2016 ({News-2016-02-29/A/2- previous coverage}). Regulation 21 includes that if a person enters into any arrangements with the main purpose, or one of the main purposes, to avoid any obligation und…