George Osborne, UK Chancellor of the Exchequer, presents his final Autumn Statement next week, before the general election on May 7 2015. The tax focus will be on maintaining UK competitiveness through policy that creates a business-friendly environment.
The UK has agreed with Germany to restrict the scope of its Patent Box to reduce the competitive advantages it provides. The restrictions are likely to be extended to other European intellectual property (IP) tax regimes.
The scope of the UK Patent Box regime is to be restricted after Germany and the UK reached agreement to reduce the competitive advantages it provides. The restrictions are likely to be extended to other European intellectual property (IP) tax regimes.
The leaking of documents detailing tax arrangements Luxembourg has agreed with hundreds of corporate taxpayers is adding to pressure on Jean-Claude Juncker, president of the European Commission, after last month’s state aid investigation launches into deals signed by the Grand Duchy while Juncker was prime minister had already cast doubt on the appropriateness of his Commission appointment.
Decisions in similar cases involving IBM, Nokia and Shell are expected to follow In a decision that could give relief to more than 20 other pending cases, the Bombay High Court has ruled in favour of Vodafone that in the absence of income, a share issue transaction cannot be subjected to transfer pricing.
The impact of a US Treasury Notice to reduce the benefits of tax inversion deals is taking effect. AbbVie has scrapped its proposed $54 billion takeover of Shire, and Salix and Cosmo have decided not to combine either.
