UK HMRC and HM Treasury have published draft legislation for the Finance Bill 2022-23. The consultation on the draft legislation will close on 14 September 2022. In addition to the introduction of Master file and Local file documentation requirements as previously reported, key measures include the introduction of the new multinational top-up tax in line with OECD's two-pillar solution to reform the international tax system and research and development tax relief changes. Details of these measures are provided in the respective policy papers as follows: --- Multinational top-up tax: UK adoption of Organisation for Economic Co-operation and Development Pillar 2...