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
The ATT had previously expressed concern that the legislation was overly complex and created unnecessary complications within the practical working of the new allowances
Introduced in 2013 to encourage R&D investment, the scheme allows UK businesses to pay only 10% corporation tax on profits derived from any UK or certain EU patents
Signed into law by president Barack Obama in 2010, the Dodd-Frank legislation has tightened regulation of the US financial system
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