After a split decision in which the Court of Appeal in London dismissed the argument of five taxpayers that the UK’s thin capitalisation (thin cap) rules breach the EU’s freedom of establishment, the companies plan to file an appeal with the Supreme Court.
Amid growing EU pressure to end abusive elements of their zero-10 tax policies, Jersey and the Isle of Man have removed attribution and deemed distribution (ADD), changing the tax rules for individual shareholders in local companies.
South Africa’s budget, to be presented on February 23, is likely to introduce a number of tax reforms that will be welcomed by companies including widening the Regional Headquarter Company regime.
A report from a professional services firm has found that 61% of companies in the UK are unclear about the distinction between legitimate tax planning and tax avoidance.
In a split decision, the Court of Appeal in London today dismissed the argument of five taxpayers that the UK’s thin capitalisation rules breach the EU’s freedom of establishment.
The French State Council’s ruling in the Pfizer Holding case has changed the burden of proof for the VAT deductibility of costs related to the sale of shares.
