South Africa’s Supreme Court of Appeal dismissed a VAT challenge brought by Master Currency yesterday, but the principle established could mean tax advisers’ fees go up in some circumstances.
The arguments have been delivered in Fortescue Metals’ (Fortescue) High Court challenge against the constitutionality of the Minerals Resource Rent Tax (MRRT).
With Russia and France recently announcing the introduction of formal enhanced relationship tax compliance programmes, and several other countries proposing to do the same in the near future, International Tax Review speaks with John Condon, regional tax manager for BP – Australasia, about entering Annual Compliance Arrangements (ACA) with the Australian Taxation Office (ATO).
New Zealand taxpayers will be worried the country’s general anti-avoidance rule (GAAR) is increasingly being used to effectively re-write deficient legislation and to set aside specific legislation, after the Court of Appeal found against Alesco in a tax avoidance case.
Special investment funds received some good news last week when the European Court of Justice (ECJ) decided they were exempt from paying VAT on third party advisory services.
The European Court of Justice (ECJ) ruled against Wheels Common Investment Fund Trustees (Wheels) today, delivering a judgment which will upset defined benefit pension funds, delight some fund managers but leave uncertainty around the treatment of management services provided to defined contribution schemes.
