Direct Tax Case Round Up 2007

The ECJ delivered an important judgment in Test Claimants in the 'Thin Cap' Group Litigation v CIR holding that Article 43EC of the EC Treaty 'precludes legislation of a Member State which restricts the ability of a resident company to deduct for tax purposes interest on loan finance granted by a direct or indirect parent company which is resident in another Member State or by a company which is resident in another Member State and is controlled by such a parent company without imposing that restriction on a resident company which has been granted loan finance by a company which is also resident unless first that legislation provides for...