Thu 24 May 2007, The Times

Tax statute is not discriminatory

House of Lords Published May 24, 2007 Boake Allen Ltd v Revenue and Customs Commissioners Before Lord Hoffmann, Lord Woolf, Lord Walker of Gestingthorpe, Lord Mance and Lord Neuberger of Abbotsbury Speeches May 23, 2007 Section 247 of the Income and Corporation Taxes Act 1988, by denying companies with foreign parents the right to make a group income election allowing a subsidiary company to pay dividends to a parent company free of advance corporation tax, did not infringe the nondiscrimination articles of the double taxation agreements between the United Kingdom and the United States, or between the UK and Japan. The House of Lords so held in dismissing an appeal by Boake Allen Ltd and eight other companies, representative claimants in group litigation, from the order of the Court of Appeal (Lord Justice Mummery, Lord Justice Sedley and Lord Justice Lloyd)(sub nom NEC Semiconductors Ltd v Revenue and Customs Commissioners ( The Times February 10, 2006; [2006] STC 606)).
Read the original article.
It was published by The Times, which adheres to the PCC Code