Map of new california republic9/7/2023 ![]() The new MAP measure will allow such relief from the diverted profits tax to be given under a mutual agreement procedure in accordance with an applicable treaty. Some large multinational enterprises with business activities in the UK have become subject to the diverted profits tax and have sought relief under the mutual agreement procedure of an applicable tax treaty. The diverted profits tax, introduced in 2015, aims to counteract certain arrangements that are used by some multinational enterprises to divert profits from the UK tax base. ![]() The UK government will adopt legislative amendments to include the diverted profits tax among the taxes for which relief may be granted under the mutual agreement procedure (MAP) of an applicable tax treaty, according to an October 27 policy paper released in connection with Autumn Budget 2021.Ī related measure will address the diverted profits tax’s interaction with corporation tax closure notices and certain relieving provisions.
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