BRITISH DRUG MANUFACTURER SHIRE has confirmed it received a C$266m (£146m) tax rebate from the Canadian tax authority, with a further C$174m yet to come.
Subject of a takeover bid from Canadian rival AbbVie, the windfall bolstered Shire’s position as it prepares to woo shareholders over the bid.
Shares in the FTSE100 company rose with the news, but started today down 17p at 4,553p per share, Accountancy Age‘s share price centre shows.
The company said on its website: “Shire intends to use the cash receipts to repay debt, providing Shire with increased capacity to invest in focussed business development activities.”
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...