The European Court of Justice (ECJ) overturned the European Commission’s ruling that a tax benefit obtained by electricity company EDF constituted improper state aid on Tuesday, saving the company €889 million ($1.1 billion).
Russian companies undertaking so-called BVI-Cyprus sandwich structures to gain tax treaty benefits on royalty income are taking a serious risk according to advisers, despite a recent taxpayer victory in the Federal Arbitration Court of the Ural's Circuit.
Australian airlines will need to pass on extra costs to customers, increase fuel efficiency and axe routes, if they are to survive the introduction of the carbon pricing mechanism on July 1.
Foreign multinationals operating in Denmark need to review their transfer pricing arrangements, apply for advance pricing agreements (APAs) and ensure they can explain any losses filed, in response to a government Bill including increased financial penalties, which will take effect next year.
The South African Revenue Service (SARS) and National Treasury are discussing whether to amend tax legislation after SARS lost a recent Supreme Court of Appeal case in which a double tax avoidance agreement (DTA) was deemed to override domestic law.
The average corporate tax rate among EU member states has increased for the first time in more than a decade, and taxpayers can expect fewer rate cuts while the financial crisis continues, according to advisers.
