The High Court decision in Vodafone 2 has prompted a mixed reaction among taxpayers and advisers with some relatively cautious as to what may happen next (for example Roopa Aitken in The Tax Journal Issue 945 4 August 2008) and others rather more exuberant (for example Steve Edge The Tax Journal Issue 943 21 July 2008). For my part I do not fully share Steve Edge's optimism that the High Court decision is 'very unlikely' to be overturned on appeal.
I would agree with Evans-Lombe J that the CFC rules and the motive test in particular cannot reasonably be construed so as to conform with the acceptable boundaries of a CFC regime as laid down by the ECJ in Cadbury Schweppes. Not least that is because to do...
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The High Court decision in Vodafone 2 has prompted a mixed reaction among taxpayers and advisers with some relatively cautious as to what may happen next (for example Roopa Aitken in The Tax Journal Issue 945 4 August 2008) and others rather more exuberant (for example Steve Edge The Tax Journal Issue 943 21 July 2008). For my part I do not fully share Steve Edge's optimism that the High Court decision is 'very unlikely' to be overturned on appeal.
I would agree with Evans-Lombe J that the CFC rules and the motive test in particular cannot reasonably be construed so as to conform with the acceptable boundaries of a CFC regime as laid down by the ECJ in Cadbury Schweppes. Not least that is because to do...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")