Archive for the 'corporation tax' Category

Haribo Lakritzen Hans Riegel Betriebs GmbH v Finanzamt Linz; Osterreichische Salinen AG v Same – WLR Daily

Haribo Lakritzen Hans Riegel Betriebs GmbH v Finanzamt Linz; Osterreichische Salinen AG v Same(Joined Cases C-436/08 and C-437/08); ; [2011] WLR (D) 49

“Legislation of a member state which discriminated against portfolio dividends received by a resident company from a company resident in a non member state party to an EEA Agreement, was contrary to the principle of free movement of capital, where that discrimination was based upon a comprehensive agreement of mutual assistance. It was not contrary to article 63FEU of the FEU Treaty for member states to exempt from corporation tax portfolio dividends which one resident company received from another whilst subjecting portfolio dividends which a resident company received from a non member state company party to an EEA Agreement or from a company resident in another member state, provided that the tax was credited against tax payable in the members state of the recipient company and the administrative burdens were not excessive. National legislation which discriminated against dividends received from non member states on the basis of the shareholding held by the recipient company in the non member state company was not contrary to article 63FEU provided the mechanisms in place to off set the charges to tax led to equivalent results.”

WLR Daily, 18th February 2011

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

DCC Holdings (UK) Ltd v Revenue and Customs Comrs – WLR Daily

DCC Holdings (UK) Ltd v Revenue and Customs Comrs [2010] UKSC 58; [2010] WLR (D) 333

“When interpreting a deeming provision in a taxing statute it was important not to take the hypothesis further than was warranted. It followed that the deeming provisions in corporation tax legislation on sale and resale ‘repo’ transactions — whereby the parties’ accounts were to be debited and credited on the basis that it was a deemed loan relationship between them — were to be construed so that they reflected the statutory purpose of taxing such transactions on a uniform basis and not so that one party could claim a debit which could be set off against other liabilities.”

WLR Daily, 16th December 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Sun Life Assurance of Canada (UK) Ltd v Revenue and Customs Commissioners – WLR Daily

Sun Life Assurance of Canada (UK) Ltd v Revenue and Customs Commissioners [2010] EWCA Civ 394; [2010] WLR (D) 97

“In calculating the liability to corporation tax of an insurer in respect of its basic life and general annuity business, the taxpayer was entitled to relief in respect of losses incurred in past years, including years prior to 2003, when the law had been amended to make specific reference to the right to carry losses forward in respect of that type of business.”

WLR Daily, 16th April 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Corporation Tax Act 2010

Corporation Tax Act 2010 published

Full text of Act (PDF)

Source: www.opsi.gov.uk

Vodafone2 v Commissioners for Revenue and Customs – Times Law Reports

Vodafone2 v Commissioners for Revenue and Customs

Court of Appeal

“In order to interpret United Kingdom legislation concerning the profits of controlled foreign companies in a way which avoided any unlawful restriction of a taxpayer company’s right to freedom of establishment, conferred by article 43 of the European Treaty, the court was entitled to introduce an additional exception to those contained in section 748(1)(a) to (e) and (3) of the Income and Corporation Taxes Act 1988.”

The Times, 26th June 2009

Source: www.timesonline.co.uk

Vodafone 2 v Revenue and Customs Commissioners – WLR Daily

Vodafone 2 v Revenue and Customs Commissioners [2009] EWCA Civ 446; [2009] WLR (D) 170

“It was possible to provide a conforming interpretation of the Income and Corporation Taxes Act 1988 which avoided any unlawful restriction on a taxpayer company’s freedom of establishment, conferred by art 43EC of the EC Treaty, by the introduction of an additional exception to those contained in s 748(1)(a) to (e) and (3) in respect of the apportionment of profits of controlled foreign companies by the additional implication of the words ‘ if [the company] is, in that accounting period, actually established in another member state of the EEA and carries on genuine economic activities there’.”

WLR Daily, 21st May 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Corporation Tax Act 2009

Corporation Tax Act 2009 published

Full text of Act (PDF)

Source: www.opsi.gov.uk


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