An Advocate General of the European Court of Justice (ECJ) released an opinion last week which gives the court the option of reversing its original decision in the Franked Investment Income Group Litigation Order (FII) case.
A recent judgment by Canada’s Federal Court of Appeal (FCA) found in favour of an individual taxpayer against the Canada Revenue Agency’s (CRA) attempts to tax gains realised from a foreign trust, but the judge’s analysis of the Canada-Austria income tax convention could have wider ramifications.
Polymetal, a Russian gold and silver producer, has said its defeat in a transfer pricing case last week could affect the tax efficiency of hedging instruments related to sales of physical commodities.
Polymetal, a Russian gold and silver producer, lost a transfer pricing dispute at the Supreme Arbitration Court last week, and the company says the ruling could affect the tax efficiency of hedging instruments related to sales of physical commodities.
In the News Limited ruling on Tuesday, Australia’s Federal Court ruled that currency exchange losses should not be limited only to the exchange of money, and this will give taxpayers confidence in claiming tax deductions for such losses in a broader range of circumstances.
