EC mergers directive
Article Abstract:
The European Community (EC) has agreed on three corporate tax directives which cover transfer pricing disputes, dividend withholding taxes, and mergers and divisions. The deadline for adoption of legislation is 1 Jan 92 for all EC countries, with the exception of Portugal, which has until 1 Jan 93 for the Mergers Directive. In the UK, the legislation will have to be included in the Finance Act of 1991. The EC Mergers Directive, which intends to ensure that there is no taxation on capital gains arising from the transfer of assets and shares in six specific merger, demerger, and share transactions, will necessitate a change in UK taxable law, particularly in the area of relief related to a merger or reorganization.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
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Ambiguous costs in a muddle
Article Abstract:
The matter of allocation of costs to specific activities and the question as to whether the costs are meant to be shared between different uses or regarded as relating particularly closely only to one, is the area of the VAT law that is coming under increasingly regular scrutiny. The case of Amana Books Ltd (19541) is presented, where VAT was charged to the company on the provision of promotional broadcasts was wholly referable to increasing the sales of its books.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2006
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