Alcoa, the multinational aluminium producer, recently signed an Annual Compliance Arrangement (ACA) that was described by Australian Tax Commissioner Michael D’Ascenzo as “historic” because of its comprehensive nature. International Tax Review looks at whether such a broad ACA is best for taxpayers.
The European Court of Justice delivered its second judgment in the Franked Investment Income (FII) Group Litigation today, finding mainly in favour of the taxpayers.
Prudential concluded its arguments for the extension of legal professional privilege (LPP) to communications between taxpayers and accountants before the UK Supreme Court yesterday, in a case with huge consequences for practitioners and taxpayers.
Fortescue Metals Group (Fortescue) will have its case against the Minerals Resource Rent Tax (MRRT) heard by the Australian High Court next year, after leave was granted on Monday, though constitutional lawyers say its case is unlikely to succeed.
New Zealand taxpayers are watching Alesco's Court of Appeal case with bated breath, as the outcome could give a big indication of the extent to which the country's general anti-avoidance rule (GAAR) can be invoked against transactions.
