Advocate General Kokott’s opinion has been published on the European Commission’s action against the UK for failing to properly implement the decision in the Marks & Spencer cross-border group relief case.
In a development proclaimed by its organisers as ‘a huge breakthrough’, SSE plc became the first FTSE 100 company to be awarded the Fair Tax Mark – a ‘kite mark’ awarded to companies considered to be ‘open and transparent about their tax affairs and seek to pay the right amount of corporation tax
Foreign subsidiaries and loss relief
Secondary liabilities can present a significant concealed tax risk for a purchaser when acquiring a UK corporate target. Due to the wide reach of the provisions, a diligence review of target entities alone will often not identify all the potential tax risks. Mark Boyle and Joe Grehan (EY) provide this practice guide on steps to take to mitigate these risks
Jeanette Zaman and Emma Game (Slaughter and May) consider whether the conditions for demergers to qualify as exempt distributions are in need of an overhaul
Heather Self (Pinsent Masons) asks if this the end for the ‘double Irish’ structure
The Irish finance minister, Michael Noonan, announced in his Budget statement on 14 October that the government is putting a stop to ‘double Irish’ corporate tax avoidance arrangements – such as those utilised by multinational corporations Apple and Google – by requiring all companies registered
Two of the BEPS deliverables that the OECD issued on 16 September indicate transfer pricing changes. These relate to intangibles and documentation. Martin Zetter (Macfarlanes) takes a look.
Free movement of capital and the taxation of foreign holdings
With recent events suggesting an increased interest from the EC in fiscal state aid, taxpayers would benefit from an early awareness of state aid risks, and advisers should also be careful to advise fully on these. Kelly Stricklin-Coutinho (Thirty Nine Essex Street) reports