Almost universally in 2012, it seems there has been a pledge from revenue authorities bidding to spare resources, and taxpayers craving certainty, to try and reduce the risk of entering new litigation. But while some litigation is undoubtedly avoidable, there are always those cases which climb through the judicial system, demanding attention from the highest courts. Such cases often have a dramatic impact on how taxpayers do business. Joe Dalton looks at the tax rulings multinationals need to follow in 2013.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap