UK companies can expect refunds of stamp duty reserve tax (SDRT) paid on the transfer of shares outside the EU for capital raising purposes, after HMRC announced it will not seek permission to appeal the First-tier Tax Tribunal’s decision in the HSBC case.
The Hungarian government has announced it will implement a financial transaction levy (FTL) in January 2013, but it seems the model will depart significantly from the European Commission’s (EC) proposals and that which France will introduce in August.
Russia's Ministry of Finance has clarified how taxpayers should calculate the threshold for controlled transactions, but its interpretation leaves companies with a choice of non-compliance or dedicating more resources to transfer pricing.
The US Supreme Court has ruled that the Internal Revenue Service (IRS) cannot use an extended six year statute of limitations period to investigate an overstatement of basis by Home Concrete.
The German government is likely to extend the grace period for accepting documentation to prove the intra-Community supply of goods from German companies to December 31 2012, according to a senior tax authority source.
