FEC report on taxing offshore income

Parliament's Finance and Expenditure Committee today published an interim report explaining how the proposed fair dividend rate method of taxing offshore portfolio share investments would work. The Committee is considering it as a replacement for the method originally proposed in the Taxation (Annual Rates, Savings Investment, and Miscellaneous Provisions) Bill, introduced in May. The report is accompanied by draft legislation. For more information see the FEC's second interim report.