The French case relates to the compatibility of residential exit tax, when an individual wanted to transfer his residence from France to Belgium. Under French – and UK – law he would have to pay 25% capital gains tax on shares, the law stretches to companies too.
The opinion could lead to UK companies, that only remained in the country because they did not want to pay the levy, fleeing the shores in search of more business friendly environments such as Ireland.
‘The de Lasteyrie du Saillant case will lay the ground for possible further significant taxation claims from EU businesses in relation to corporate emigration exit taxes,’ said Peter Cussons, international corporate tax partner, at PricewaterhouseCoopers.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states