UK HMRC has launched a public consultation on draft regulations to amend legislation introduced as part of the Finance Act 2019 for the taxation of Offshore Receipts in respect of Intangible Property (ORIP). The legislation applies from 6 April 2019 and provides for the taxation of income from intangible property held in low-tax jurisdictions to the extent that the intangible property is used to support to the sale of goods or services in the UK. The draft regulations introduce legislative changes following consultation. This includes modification of the definition of UK sales, better targeting of the legislation (insofar as it...