tag:blogger.com,1999:blog-2826531655042170344.post2019149613520773705..comments2024-03-26T11:29:52.986+00:00Comments on Economic Incentives: What is going on with Corporation Tax revenues?Seamushttp://www.blogger.com/profile/15679299530222667673noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2826531655042170344.post-65165679924364031302015-05-06T11:01:30.768+01:002015-05-06T11:01:30.768+01:00As I said on twitter, I can't see it being exc...As I said on twitter, I can't see it being exceptional items like CGT as it is month on month. VAT B2C changes will impact. Ditto potentially UK DPT. <br /><br />But the April number makes me think there is something completely off about the forecasting & the only thing I can logically see resulting in the massive projected negative for April is a corresponding adjustment. Assuming some revenues were expected for April the negative has to exceed €20m suggesting €160m of profits at 12.5%. With Vestager doing a solo run yesterday suggesting to the European Parliament that CCCTB is necessary to prevent fiscal state aids, I can't see MNEs challenging a Revenue assertion that royalties out to Bermuda were excessive to avoid making a refund due to a corresponding adjustment. <br /><br />The choice between Revenue not wanting to refund tax (and giving you some degree of comfort that in the event the D-G Competition came looking Revenue hadn't simply accepted your TP) and the D-G Competition looking for the ten year claw back based on their choice of TP method, not to mention the associated publicity...<br /><br />With April the problem is obviously in the forecasts as well as or instead of the yields and corresponding adjustments are the only thing I can think of which could impact on that given how large a number we must be talking about.Anonymousnoreply@blogger.com