US multinationals should see their transaction costs reduced when investing in foreign jurisdictions following the Supreme Court's judgment in favour of energy company PPL.
Multinationals that enter into cooperative compliance arrangements with revenue authorities can cut their risk of becoming involved in tax disputes, according to taxpayer and revenue authority representatives speaking at Oxford University yesterday.
The Royal Court of Jersey has denied an attempt by Volaw Trust and Corporate Services (Volaw) to block an information exchange request by a Norwegian taxpayer. It is the British Crown Dependency’s first ever appeal over a request made via a tax information exchange agreement (TIEA).
The UK Supreme Court has followed its March ruling in the Aimia Coalition VAT case by delivering a final dismissal of HM Revenue & Custom’s (HMRC) appeal today and awarding costs to the taxpayer.
Heritage Oil has lost its case against Tullow Uganda in the England and Wales High Court over a $313 million tax bill paid to the Ugandan government, but the company says it will likely appeal the decision.
US bank Wells Fargo has won the right to protect the measurement and analysis of its uncertain tax positions (UTP) from the Internal Revenue Service (IRS) in a taxpayer favourable decision by the Minnesota District Court in the US.
