Jane Michie FTIA (Macquarie Group) represented The Tax Institute at the inaugural meeting of the NTLG International sub-committee on Monday 16 May 2011. The sub-committee has been formed following the disbandment of the NTLG Foreign Source Income and Transfer Pricing sub-committees. The new sub-committee is still in the process of drafting its charter, but at this stage it is proposed that it will deal with all international tax issues e.g. CFC/FAF, foreign hybrids, withholding taxes, treaties etc. The sub-committee will also identify and deal with transfer pricing issues. When transfer pricing issues are on the agenda, the professional bodies’ representatives may bring specialist transfer pricing representatives to provide their expertise.
It is proposed that at the next meeting of the sub-committee some of the outstanding issues carried over from the NTLG Foreign Source Income sub-committee (which last met in March 2010) will be discussed and actioned.
The Tax Institute has an International committee (chaired by Jane Michie FTIA) which will develop agenda items to be taken to the NTLG International sub-committee. Our committee will be meeting next Monday 23 May at 12:30pm. If members have issues that they would like to be discussed at that meeting, please contact us at Tax Policy.