The Australian government is amending the Petroleum Resource Rent Tax (PRRT) to dispel uncertainty created by the Full Federal Court’s decision in the Esso Australia Resources case.
Amendments to the UK’s exit tax regime announced in the draft Finance Bill 2013 this week do not go far enough to comply with EU case law, according to some advisers.
Australia's High Court delivered a decision in the Consolidated Media Holdings case which gives a broader meaning to the concept of share capital account.
The tax disputes year started with a bang with the Indian Supreme Court ruling in favour of Vodafone, the UK telecommunications multinational, in a $2.5 billion dispute over an indirect transfer of shares. The decision grabbed the attention of taxpayers worldwide.
Taxpayers cannot rely on a contractual analysis of their arrangements for determining VAT liability but must focus on the economic reality, the England and Wales Court of Appeal’s decision in the Secret Hotels 2 (Secret Hotels) case has shown.
A case about the misuse of tax information exchanged between the US and Japan, which appeared before the US Court of Appeals for the Ninth Circuit recently, raises serious questions about what remedies taxpayers will have if their information is misused under FATCA.
