BRITISH CROSS-BORDER TAX LOSS RELIEF RULES MAYBE LIBERALISED
September 1st, 2012
BY KEITH NUTHALL
THE EUROPEAN Commission is trying to force the UK to liberalise its tax legislation on cross-border loss relief, claiming Britain has failed to implement a European Court of Justice (ECJ) order on this matter. In 2005, the ECJ ruled that a parent company should not be prevented from deducting from its tax bill losses of subsidiaries established in another member state, if all other possibilities have been exhausted. The Commission says while the UK has allowed this to happen in principle, in practice it is made "very difficult to benefit ...
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