The 2011 Finance Bill has just been published and the detail missing from the Budget announcements is now available including substantial changes to the draft legislation on the CFC interim improvements and taxation of foreign branches. The Court of Appeal has overturned the High Court decision in the Thin Cap GLO. The Court of Appeal has reached a widely expected conclusion in the Bayfine case on the UK/US treaty. The EC has published its long awaited draft directive on the CCCTB and published a consultation on Financial Sector tax. India’s Union Budget was presented on 28 February.
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