BN 6 announces certain changes to the Worldwide Debt Cap regime such as the exclusion of the results of securitisation companies from a group's 'available amount' for the purposes of the test; the gateway test including long-term arrangements that have the economic effect of loans and which give rise to an interest-like return even where these do not have the legal form of loans and clarifying that LLPs cannot be the ultimate parent of a Debt Cap group. It is understood however that (para 4 of BN 6) these amendments will only come in in a Finance Bill to be tabled after the General Election.
Double tax relief avoidance
Legislation will be introduced in Finance Bill 2010 to counter a scheme used by certain banks/financial institutions where effectively a double deduction is claimed for foreign tax for which no...
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BN 6 announces certain changes to the Worldwide Debt Cap regime such as the exclusion of the results of securitisation companies from a group's 'available amount' for the purposes of the test; the gateway test including long-term arrangements that have the economic effect of loans and which give rise to an interest-like return even where these do not have the legal form of loans and clarifying that LLPs cannot be the ultimate parent of a Debt Cap group. It is understood however that (para 4 of BN 6) these amendments will only come in in a Finance Bill to be tabled after the General Election.
Double tax relief avoidance
Legislation will be introduced in Finance Bill 2010 to counter a scheme used by certain banks/financial institutions where effectively a double deduction is claimed for foreign tax for which no...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
