A poll of 204 UK business leaders concluded that while the government has made a reasonable start, it needs to accelerate business taxation reforms to simplify the system and make it more responsive to the needs of all UK businesses.
Last year’s emergency budget, which was announced last June, shortly after the new government took power introduced some big changes for UK tax policy. This year’s budget, set for March 23, is likely to be more of a continuation, though there may be some surprises including an announcement of further corporate tax cuts.
The Finnish Supreme Administrative Court has asked the European Court of Justice (ECJ) for a preliminary ruling on final tax losses in cross-border mergers.
They say that the bigger they come the harder they fall. Few could have expected quite how hard Nortel would fall, however, or the unique cross-border tax issues the resulting administration of the group in Europe would cause.
The UK government is considering its response to a European Commission reasoned opinion to amend elements of its anti-avoidance legislation concerning the transfer of assets abroad and attribution of gains to members of non-UK resident companies.
