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
At HMRC, Dmitri Surendran was responsible for leading the London team of the offshore, corporate and wealthy unit of the fraud investigation service
Research also finds that 84% of businesses believe that the government has not provided enough information about digital tax plans
A total of £16bn was lost through tax fraud last year, according to estimates released by Pinsent Masons
Richard Asquith of Avalara looks at the non-tariff barriers the UK will face when selling into the EU post-Brexit