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May 21, 2012
Sergio André Rocha, of Ernst & Young in Brazil, examines a recent decision concerning the interpretation of article 7 of Brazilian double tax conventions (DTCs).
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May 17, 2012
The German Federal Fiscal Court recently held that a treaty override by German tax laws might be unconstitutional. If the Federal Constitution Court disagrees, then taxpayers will need to safeguard that refund claims could be appealed.
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May 17, 2012
The US Tax Court has denied Hewlett-Packard the right to US tax deductions claimed as part of a scheme involving artificial generation of foreign tax credits. The judgment does not bode well for several banks involved in similar disputes.
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May 17, 2012
The level of tax litigation is getting higher, particularly in Asia, as multinational companies wrestle for ground with the revenue-hungry tax authorities.
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May 16, 2012
Simachal Mohanty, global head of direct tax at Dr.Reddy's Laboratories, a pharmaceutical company, tries to find the positives in the much-criticised Indian general anti-avoidance rule (GAAR).
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May 14, 2012
South Africa's Supreme Court of Appeal last week released the ruling in its first-ever international tax case.
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May 11, 2012
In an opinion released on Wednesday, an Advocate General of the ECJ said discretionary investment management services should be subject to VAT, raising some serious concerns for investment managers.
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May 10, 2012
Thai airline company, Bangkok Airways, won its case in Thailand’s Central Tax Court last week, and the financing scheme under dispute could now be replicated by taxpayers across the country.
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May 10, 2012
The ECJ has today stated that French legislation that imposes withholding tax on French-source dividends distributed to foreign undertakings for collective investments in transferable securities (UCITS) is contrary to EU law.
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May 09, 2012
With the Indian Parliament this week approving the amended Finance Bill 2012, a precedent has been set. The legislature has the power to overrule the country’s judiciary through the use of retroactive law amendments. Read what India’s leading taxpayers, officials and advisers have to say on this latest development.
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May 09, 2012
HM Revenue and Customs’ (HMRC) anti-avoidance group has published six monthly disclosure statistics that show a marginal increase in the number of disclosures made by promoters.
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May 05, 2012
The rejection by an Advocate General of the ECJ of the UK's defence of its group tax relief rules does not augur well for Britain for when the court's judgment comes out later this year.
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May 03, 2012
Taxpayers and officials need to redefine how they interpret confidentiality if they are to improve transparency in tax disputes, warns a leading tax professor.
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May 03, 2012
A US report claims that taxpayers are likely to lose tax disputes at the Supreme Court. Read the advice taxpayers need to know if they are to avoid being on the losing side.
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May 03, 2012
Brazilian mining company Vale was ordered to present a bond to the Brazilian Federal Revenue Service (RFB) last week, but the company remains confident it will win its dispute over taxation of foreign profits.
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April 27, 2012
UK companies can expect refunds of stamp duty reserve tax (SDRT) paid on the transfer of shares outside the EU for capital raising purposes, after HMRC announced it will not seek permission to appeal the First-tier Tax Tribunal’s decision in the HSBC case.
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April 26, 2012
Malaysia’s Court of Appeal has confirmed that interest income derived by a taxpayer from loans made to an offshore entity is foreign-sourced and therefore not subject to Malaysian income tax.
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April 26, 2012
The US Supreme Court has ruled that the Internal Revenue Service (IRS) cannot use an extended six year statute of limitations period to investigate an overstatement of basis by Home Concrete.
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April 25, 2012
Both taxpayers and officials need to change their approach to tax transparency if they are to ensure greater compliance and reduce exposure to tax disputes.
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April 25, 2012
A first-of-its-kind tax case filed by New York’s Attorney General last week is a warning signal to US companies that whistleblowers will make them pay for tax evasion.
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April 20, 2012
Article 48 of the Federal Fiscal Code provides the procedure to be followed by the tax authorities where an audit or review takes place at the tax authority’s offices (not in the domicile of the taxpayer).
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April 19, 2012
The Bank of New York Mellon (BNY) is fighting the IRS in the US Tax Court this week, and the ruling could have implications for other US banks including BB&T, Sovereign, Wells Fargo and Wachovia which are all involved in similar disputes.
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April 19, 2012
Philip Baker QC, of Gray's Inn Tax Chambers in London, explains why comparisons made between Indian and UK retroactive tax law amendments are ill-informed and fail to reflect an accurate understanding of the UK practice.
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April 18, 2012
The Canadian Supreme Court’s (SCC) decision in the St Michael Trust Corp (St Michael) case will impact taxpayers with existing trust structures both in Canada and abroad.
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April 17, 2012
China has collected its largest-ever circular 698 tax demand on an offshore indirect transfer, fuelling concerns that officials are hardening their approach to compliance by foreign taxpayers.
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April 12, 2012
St Michael Trust Corp has today lost its Supreme Court of Canada (SCC) battle over the tax residence of a trust.
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April 12, 2012
Brazil’s Supreme Federal Tribunal (STF) has determined that an appeal case regarding the constitutionality of the country’s controlled foreign company (CFC) rules will have general repercussions, meaning the decision will be binding on the lower courts.
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April 12, 2012
The Philippines Court of Tax Appeals (CTA) refused a refund claim for overpaid VAT by Dumex last week because it could not provide a certificate of tax clearance to prove it had no outstanding tax liabilities.
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April 12, 2012
Last week HMRC finalised its litigation settlement strategy (LSS) and alternative dispute resolution (ADR) guidance. International Tax Review speaks to Val Hennelly, HMRC’s head of dispute resolution about what this means for taxpayers involved in disputes.
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April 12, 2012
The number of firms in contention for International Tax Review’s European Tax Awards shows that the competition for the money tax executives have to spend on external advisers is intense.
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April 11, 2012
In an exclusive interview with International Tax Review, Girish Srivastava, ex-Director General of Income Tax (International Taxation) in the Indian government talks Vodafone, retrospective amendments, and why taxpayers should expect to lose their battles with officials.
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April 10, 2012
Sabrina Wong of Blake, Cassels & Graydon reports on a ruling that will make it harder for the country’s tax officials to deny treaty benefits.
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April 05, 2012
China’s State Administration of Taxation (SAT) is looking to adopt an advance tax ruling (ATR) system in response to increasing pressure on its resources using the traditional audit-based approach.
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April 05, 2012
India’s Authority for Advance Rulings (AAR) has held that a proposed buy-back of shares held by a Mauritian shareholder in an Indian company is a tax avoidance scheme and should be taxable as a dividend.
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April 05, 2012
HSBC’s recent victory at the UK First-tier Tax Tribunal means taxpayers should not be charged stamp duty reserve tax (SDRT) on the transfer of shares outside the EU when the transfer is part of a capital raising process.
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March 30, 2012
Companies are highly concerned with their public reputation and, in light of this, their tax positions are becoming an increasingly important concern.
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March 30, 2012
Victory for Li & Fung in its battle with the Inland Revenue Department (IRD) has given much relief to companies which subcontract services to foreign affiliates.
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March 29, 2012
A second Russian thin capitalisation ruling in as many months has created new risks in debt financing structures where the lender is the foreign sister company.
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March 29, 2012
Chemical company Union Carbide (UC) begins its battle against the IRS in the 2nd US Circuit Court of Appeals today, where victory for the taxpayer could expand the scope of US research and development (R&D) tax credits.
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March 29, 2012
The European Commission has referred Germany to the ECJ for excluding non-resident companies from beneficial group taxation arrangements, and the anticipated change in German law will come as a relief to foreign companies.
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March 28, 2012
The decision to introduce a general anti-avoidance rule (GAAR) in India has not been welcomed by the country’s tax advisers, citing that it disrespects and challenges the country’s judicial system.
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March 26, 2012
The research has now started for World Tax 2013, International Tax Review's directory of leading tax law and tax accounting firms around the world.
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March 22, 2012
A recent Dutch Court of Appeal ruling could see thousands more taxpayers claiming full refunds on dividend withholding tax and even lead to abolition of withholding tax on dividends, warn advisers.
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March 22, 2012
A novel approach to proving its actions did not provide a tax benefit helped Futuris win its Full Federal Court (FFC) dispute against the Australian Taxation Office (ATO) this week, but the outcome could have been different if the proposed amendments to Australia’s general anti-avoidance rule (GAAR) had applied in the case.
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March 22, 2012
A tax dispute involving the world’s second largest mining company, Vale, and the Brazilian Federal Revenue Service (RFB), could overhaul Brazil’s approach to the taxation of overseas profits.
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March 16, 2012
The Indian government today proposed legislation that will allow it to retrospectively tax overseas mergers where an Indian asset is transferred. This move nullifies the recent Vodafone Supreme Court decision.
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March 14, 2012
India’s Central Board of Direct Taxes has issued stringent reporting requirements for liaison offices (LOs) which advisers believe will lead to disputes and protracted proceedings.
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March 14, 2012
The Channel Islands are defending their right to the UK’s low value consignment relief (LVCR) at a High Court judicial review this week, but their legal team say that regardless of the outcome, offshore mail-order businesses won’t be moving back to the UK.
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March 13, 2012
Australia is strengthening its general anti-avoidance rule (GAAR) to ensure it counters tax avoidance schemes that are carried out as part of broader commercial transactions.
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March 12, 2012
The Supreme Court of Canada is today hearing the St Michael Trust Corp dispute on the tax residence of a trust.
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March 12, 2012
With the UK government set to announce consultation on a proposed general anti-avoidance rule (GAAR) in next week’s budget, International Tax Review has compiled a special free pdf report on the developments surrounding its introduction.
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March 08, 2012
The UK High Court has ruled that where taxpayers have unlawfully paid VAT to a supplier, they are not entitled to bring claims against HMRC under UK law but may have the opportunity to claim under European law.
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March 08, 2012
The Dutch Supreme Court has ruled that currency exchange gains on loans to which the anti-base erosion rules apply are not liable to tax, though law changes could be enacted as a result of the decision.
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March 06, 2012
Non-residents should not underestimate their exposure to Canadian tax filing obligations, warn Jean Marc Gagnon and Emmanuel Sala of Blake, Cassels & Graydon.
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March 05, 2012
A First-tier Tribunal (FTT) decision that deals with the UK’s consortium relief rules and the non-discrimination article in double taxation conventions contains some positives and negatives for taxpayers.
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March 01, 2012
The European Commission has launched a public consultation on the double non-taxation of cross-border companies.
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March 01, 2012
The Spanish Supreme Court has made a decision which not only contrasts with that of France's Zimmer case and Norway's Dell case but means taxpayers should re-examine structures where a Spanish company performs activities for non-resident related entities under contract.
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March 01, 2012
Multinationals applying Canadian tax treaties to reduce withholding tax on royalty payments before paying funds to entities in non-treaty countries were boosted by a favourable Canadian Tax Court ruling last week.
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February 28, 2012
A recent Indian ruling has clarified the interplay between a fixed place permanent establishment (PE), an agency PE, and the significance of the arm’s-length principle in establishing a direct agent PE.
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February 28, 2012
After a damning report criticising the way the UK tax authority handles its disputes with large taxpayers, a new role has been created that aims to make HMRC’s processes more open and accountable.
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February 24, 2012
Jack Grocott speaks to Diego Gonzalez-Bendiksen, the head of the Colombian tax office's (DIAN) international audit unit about the future of compliance and why he is scrutinising M&A activity.
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February 23, 2012
Companies around the world are beginning to understand the importance of transparency about their tax affairs and the reputational benefits of eschewing aggressive tax planning. They will have the opportunity to debate these crucial issues with administrators, activists and practitioners at International Tax Review's first Tax & Transparency Forum on May 2.
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February 23, 2012
Just when you thought the Vodafone dispute had come to an end, it has reared its head again with the government challenging last month’s Supreme Court ruling and looking to change the law so that offshore transactions become taxable.
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February 17, 2012
Companies around the world are beginning to understand the importance of transparency about their tax affairs and the reputational benefits of eschewing aggressive tax planning. They will have the opportunity to debate these crucial issues with administrators, activists and practitioners at International Tax Review's first Tax & Transparency Forum on May 2.
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February 16, 2012
Delegates at the Tax Council Policy Institute (TCPI) were told yesterday that tax risk is an important and unavoidable part of doing business, but that effective risk management is essential.
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February 16, 2012
Taxpayers in Singapore are praising a recent Income Tax Board of Review (ITBR) decision for delivering certainty on the issue of when a shareholding test waiver may be granted following a substantial change of shareholders.
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February 13, 2012
Last month’s Vodafone ruling provided some clarity on the taxability of indirect transfers of Indian assets. But there are still some questions to be answered. Sanjay Sanghvi and Suraj Shetty of Khaitan & Co look at the Aditya Birla tax controversy in light of the Vodafone ruling and explain that the clues are there on how the country is targeting indirect transfers.
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February 13, 2012
India’s Supreme Court will begin hearing the case of E*Trade Mauritius on Friday. The case relates to the taxation of capital gains arising from the transfer of shares from a Mauritius to an Indian company.
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February 10, 2012
The Australian High Court has ruled that buildings manufacturer James Hardie did not owe capital gains tax as a result of a 1998 restructuring.
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February 09, 2012
Taxpayers in Mexico have long suffered when it comes to indirect non-discrimination. But recent case law and legislative guidance suggest this is coming to an end.
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February 09, 2012
Victory for Li & Fung in its hearing before Hong Kong’s Court of Appeal next week will give much relief to companies which subcontract services to foreign affiliates, but if the Commissioner of Inland Revenue (CIR) triumphs it could turn Hong Kong’s tax principles upside down.
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February 06, 2012
When it comes to the Canadian general anti-avoidance rule (GAAR), it could be said that the difference between acceptable and unacceptable tax planning is in the eyes of the beholder.
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February 03, 2012
The imposition of harsh penalties against General Electric (GE) provides a stark warning to companies using tax shelters in the US.
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February 01, 2012
International Tax Review has compiled a special free pdf report on Vodafone’s Indian Supreme Court victory. View the ruling, read what industry had to say, and uncover what this decision means for your business.
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January 31, 2012
The Supreme Court of Canada is preparing itself for a March 13 hearing of the St Michael Trust Corp dispute on the tax residence of a trust.
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January 30, 2012
International Tax Review has compiled a special free pdf report on Vodafone’s Indian Supreme Court victory. View the ruling, read what industry had to say, and uncover what this decision means for your business.
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January 30, 2012
International Tax Review has compiled a special free pdf report on Vodafone’s Indian Supreme Court victory. View the ruling, read what industry had to say, and uncover what this decision means for your business.
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January 30, 2012
Taxpayers in the US should expect greater uncertainty, challenges to their tax planning and heavy penalties if the Supreme Court rules in favour of the IRS in the long-running Home Concrete dispute.
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January 25, 2012
Strong legal arguments were not the only thing on Vodafone’s side in their triumph at the Indian Supreme Court last week, statistics show that a victory was inevitable.
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January 24, 2012
If things hadn’t gone Vodafone’s way on Friday then the company would now be looking at a $2.5 billion tax bill. Here are a few tips on how to avoid becoming the next target for the Indian Tax Department.
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January 24, 2012
In 2011, five key court decisions from the Supreme Arbitrazh Court (SAC) shaped the way taxpayers do business in Russia, but their real influence will only be felt throughout 2012.
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January 23, 2012
The Supreme Court’s Vodafone judgment is a momentous decision not only for India but also for a large number of foreign investors anxious to be a part of India’s growth story.
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January 23, 2012
The Supreme Court’s Vodafone judgment is a momentous decision not only for India but also for a large number of foreign investors anxious to be a part of India’s growth story.
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January 23, 2012
With last week’s victory for Vodafone, a message has been sent out to governments around the world that pursuing the taxation of the indirect transfer of shares is an unsustainable policy. But China won’t listen.
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January 23, 2012
With last week’s victory for Vodafone, a message has been sent out to governments around the world that pursuing the taxation of the indirect transfer of shares is an unsustainable policy. But China won’t listen.
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January 20, 2012
Vodafone has won its $2.5 billion tax battle with the Indian tax authorities. Read the court ruling and what industry had to say.
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January 20, 2012
Vodafone has today won its $2.5 billion tax battle with the Indian tax authorities. Read the court ruling and what industry had to say.
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January 20, 2012
Indian companies that defer the payment of sales tax are running a serious risk if they fail to meet agreed production start dates, following the Supreme Court’s ruling against Essar Energy on Tuesday.
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January 19, 2012
India’s Supreme Court will tomorrow issue its ruling on whether Vodafone is to pay $2.5 billion in tax to the Indian government. Here is everything you need to know to prepare for the decision.
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January 19, 2012
Mohan Parasaran, senior advocate and additional solicitor general of India provides an insight into the work of Kapadia and explains why the whole tax world is waiting for his judgement tomorrow in the Vodafone dispute.
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January 19, 2012
The Danish tax authority has lost another withholding tax case on the beneficial ownership of dividend payments amounting to DKr658 million ($114 million). However, in a decision that should encourage taxpayers, caution is still needed as the legal position on dividend distributions will not be clarified until the Supreme Court hears the case.
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January 17, 2012
The Supreme Court of Canada met last week to hear the Canadian Revenue Authority’s (CRA) appeal and GlaxoSmithKline’s (GSK) response in a case to decide whether GSK paid too much for active pharmaceutical ingredients (API) from a Swiss associated enterprise.
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January 13, 2012
The Advocate General’s opinion in the Littlewoods case, heard by the ECJ in November, means that taxpayers are unlikely to be able to claim back substantial amounts interest on overpaid VAT.
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January 11, 2012
With the Vodafone India Supreme Court decision expected any day now, here are the 10 things to watch out for in the judgment, which is likely to be lengthy, comprehensive and where each word will be put under the microscope.
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January 11, 2012
A Chinese taxpayer has successfully demonstrated that there are effective legal procedures to formally challenge Chinese tax decisions.
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January 10, 2012
Not only are the tax courts in Canada busy with many interesting cases, but on the international side the administrative relief programmes are well used to reduce unintended double taxation.
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January 10, 2012
Russian companies with significant foreign capital and high debt to equity ratios, are at risk of attack by the tax authorities following a recent Supreme Arbitration Court (SAC) ruling.
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January 09, 2012
Zimplats, the Zimbabwean mining company, has become involved in a $28 million tax fight with the country’s government over unpaid royalties.
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January 04, 2012
The Philippine Amusement and Gaming Corporation (PAGCOR) has settled a tax dispute worth $19.6 million despite arguing that it should be exempt from tax.
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January 04, 2012
India’s finance ministry has released a report outlining the measures taken by the government to tackle corporate tax evasion and to curb flows of illicit black money.
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January 03, 2012
China has underlined its determination to strengthen its anti-avoidance rules by concluding the country’s first thin capitalisation audit.
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January 03, 2012
Canadian courts continue to be busy with tax litigation as the Canada Revenue Agency (CRA) continues to attack tax planning that it deems to be overly aggressive.