Xilinx has lost a court ruling in a transfer pricing dispute against the
Internal Revenue Service (IRS).
The US Court of Appeals reversed an earlier Tax Court hearing from 2005
involving the companies Irish subsidiary, Xilinx Ireland, and the allocation of
research and development costs, according to
At the time, the court had agreed with Xilinx, but the IRS has now
successfully appealed the ruling in a 2-1 decision.
The multinational does not expect the ruling to have any material impact on
its future earnings. It is unclear how much money Xilinx is now liable to pay
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Lord Howard Leigh of Hurley discusses the government’s initiatives to mitigate tax avoidance and evasion
Top 50+50: Demand for tax advisory services remains high, but fee pressure is expected in relation to compliance services
The demand for tax advisory services remains high and this looks to continue; but fee pressure is expected in relation to compliance services as the “Making Tax Digital” initiative is rolled out,
While some resistance to change is to be expected, the degree of controversy surrounding HMRC's Making Tax Digital proposals has surprised the government