The Robin Hood Tax campaign group says the FTT will still be successful The EU member states introducing the financial transaction tax (FTT) may be forced to water down the European Commission's proposal if they want to make it stick, after the EU Council's legal service said part of the residence principle of the tax is incompatible with European law.
US bank BB&T is considering appealing Friday’s Court of Federal Claims defeat, despite the case judge describing its tax credit generator scheme with Barclays as an economically meaningless tax shelter. While some advisers and academics say the decision is unhelpful for taxpayers undertaking legitimate tax planning.
The Bank of New York Mellon’s (BNY Mellon) US Tax Court victory on Monday could see a new wave of taxpayer claims in structured trust advantaged repackaged securities (STARS) cases.
After the European Commission’s announcement it is investigating Ireland, Luxembourg and the Netherlands in relation to preferential tax rulings, the Irish Revenue Commissioners say they are reviewing the transfer pricing practices of 12 multinationals.
HM Revenue & Customs (HMRC) has published an evaluation of its pilot on alternative dispute resolution (ADR) for large and complex tax cases, and says it will up its mediation capacity after ADR proved to be a useful tool in resolving entrenched disputes.
US specialist software provider BMC Software lost its case against the Internal Revenue Service (IRS) over tax due on income repatriated between 2005 and 2006 in the Tax Court on Wednesday.
