The European Court of Justice’s (ECJ) decision that Spanish companies transferring assets to another EU member state can defer exit tax payment was unsurprising given the court’s rulings in National Grid Indus and Portugal v Commission. But advisers say the ECJ is leaving important questions unanswered.
The UK Supreme Court unanimously dismissed motor breakdown insurance provider WHA’s appeal over the recovery of VAT on car repair services this morning, agreeing with an earlier decision by the Value Added Tax and Duties Tribunal.
The Supreme Federal Court (STF) of Brazil resumed its judgment in the case set to decide the constitutionality of the country’s controlled foreign company (CFC) rules yesterday and confirmed an injunction meaning mining multinational Vale will not have to pay its R30.55 billion ($15.09 billion) tax assessment until the court has made further analysis.
The European Court of Justice (ECJ) yesterday ruled that non-taxable entities such as holding companies are permitted to join VAT groups, dismissing an action brought by the European Commission against Ireland and confirming a solution to BAA’s (now Heathrow Airport Holdings) England and Wales Court of Appeal defeat in the process.
Indian taxpayers were reassured by a ruling of the Income Tax Appellate Tribunal (ITAT) that company shares cannot be equated with immovable property to apply Indian capital gains tax to a transaction.
Online retailers in the US who use New York affiliates to refer potential customers to their websites will switch to affiliates in other states after New York’s Court of Appeals dismissed a challenge brought by Amazon and Overstock.
