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Tax weekly highlights—13 May 2021

Tax weekly highlights—13 May 2021
Published on: 13 May 2021
Published by: LexisPSL
  • Tax weekly highlights—13 May 2021
  • In this issue:
  • Companies and corporation tax
  • FTT allows unilateral credit for US withholding tax when treaty relief did not apply (Aozora GMAC Investments v HMRC)
  • Anti-avoidance
  • Taxpayer’s Ramsay argument fails before the Court of Appeal (Khan v HMRC)
  • International
  • Luxembourg wins Amazon State aid appeal but loses in Engie
  • Proposal to amend VAT Directive to confer implementing powers on European Commission
  • Share and asset sales
  • More...

Article summary

This week’s edition of Tax highlights includes: (1) the FTT’s decision in Aozora GMAC Investments to allow unilateral credit for US withholding tax when treaty relief did not apply, (2) the Court of Appeal’s decision in Khan that the taxpayer was chargeable to tax on the distribution arising from a buyback of a company’s shares which occurred as part of a series of transactions for the sale of the company, and (3) highlights from the Queen’s Speech at the opening of the new Parliamentary session. or take a trial to read the full analysis.

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