Tax issues on an asset sale: part II

James Hill Partner and Karla Yates Associate in the Tax Department of Mayer Brown International LLP provide an overview of the indirect tax issues arising on business acquisitions

The first part of this article explained the direct tax implications of business acquisitions with an emphasis on the potential division of interests between purchaser and seller in particular as regards the allocation of the consideration between the various classes of assets. This second part examines the indirect tax issues arising on the same type of transaction. For the purposes of this article and unless otherwise mentioned it will be assumed that the parties are unconnected...