The General Court upholds the European Commission’s assessment that the group financing exemption in the UK’s CFC rules partially constituted unlawful state aid. Since the qualifying asset holding company (QAHC) regime was launched in April, a number of QAHCs have already been established and HMRC continues to work on various policy issues. The Energy Profits (Oil and Gas) Levy Bill is published but as drafted does not provide the incentive to invest as announced by the chancellor.
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The General Court upholds the European Commission’s assessment that the group financing exemption in the UK’s CFC rules partially constituted unlawful state aid. Since the qualifying asset holding company (QAHC) regime was launched in April, a number of QAHCs have already been established and HMRC continues to work on various policy issues. The Energy Profits (Oil and Gas) Levy Bill is published but as drafted does not provide the incentive to invest as announced by the chancellor.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
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