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EU: UK Wins top court challenge over tax-relief rules

By  |  February 3, 2015

Britain won a court fight with European Union regulators who claimed its tax-relief rules discriminate against companies with cross-border units.

The European Court of Justice in Luxembourg ruled on Tuesday that the EU failed to back up claims that the U.K. makes it “virtually impossible” for parent companies in the country to use losses on foreign subsidiaries to cut their British tax bill.

The EU court rejected the European Commission’s argument “in its entirety”. The EU is targeting tax deals throughout the 28-nation bloc that may have given domestic and overseas companies unfair advantages. The European Commission’s competition department is probing potentially unfair tax breaks for multinational companies from Apple to Amazon.

 

Full Content: Bloomberg

 

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