The Court of Appeal decision in the FCE Bank case last week is good news for UK taxpayers with existing cross-border group relief claims from loss-making EU sister companies, where the common parent is an EU or US resident.
The European Court of Justice (ECJ) has said the dissolution of a company due to merger by acquisition cannot be considered a liquidation for tax purposes in its Punch Graphix decision last week.
Loyalty Management UK (LM UK) responded to HM Revenue & Customs’ (HMRC) challenge in the Supreme Court today, arguing that the House of Lords’ decision in Redrow has not been overridden by European case law, and therefore the taxpayer is entitled to a full deduction of input VAT on service fees paid to redeemers.
HM Revenue & Customs (HMRC) opened its argument against Loyalty Management UK (LM UK) in the Supreme Court today by saying that the House of Lords’ decision in the Redrow case was wrong and should be overturned.
Taxpayers in Egypt with open sales tax disputes will welcome the Supreme Constitutional Court’s judgment that the retroactive imposition of sales tax is unconstitutional.
The Aimia Coalition Loyalty (Aimia) case concerning the right of third parties to recover VAT in loyalty scheme arrangements will be heard at the UK Supreme Court next week. The ruling could have implications for M&A and insolvency arrangements, too.
