In the light of the recent Marks & Spencer case John Cullinane Tax Partner at Deloitte offers an alternative way forward
Much has been written about the Advocate-General's Opinion in Marks & Spencer Case C-446/03 since its publication on 7 April. The one thing everyone agrees on is the Advocate-General's comment on his own proposals: 'Doubtless such a solution appears complex' (paragraph 83). Perhaps it is time to step back and look at what the fundamental problem is in this case and whether there is a simpler way forward.
What is the problem?
Suppose a profitable London-based group of companies establishes a subsidiary in Edinburgh and incurs start-up losses there (call this Scenario 1). The...
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In the light of the recent Marks & Spencer case John Cullinane Tax Partner at Deloitte offers an alternative way forward
Much has been written about the Advocate-General's Opinion in Marks & Spencer Case C-446/03 since its publication on 7 April. The one thing everyone agrees on is the Advocate-General's comment on his own proposals: 'Doubtless such a solution appears complex' (paragraph 83). Perhaps it is time to step back and look at what the fundamental problem is in this case and whether there is a simpler way forward.
What is the problem?
Suppose a profitable London-based group of companies establishes a subsidiary in Edinburgh and incurs start-up losses there (call this Scenario 1). The...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
