The Supreme Tax Court has held that the Corporation Tax Act prohibition on impairment write-downs on foreign investments in 2001 must be disapplied if the investment is protected by the EU freedoms of establishment or capital movement, or if it leads to retrospective taxation. Continue reading
Tax & Legal
The Supreme Tax Court has held that the capital gain on the sale of a foreign investment is the difference between the amount paid in euros and the amount received in euros.
The Supreme Tax Court has referred to the ECJ on a refusal to grant the same inheritance tax allowance on a holding in Canada that would have been available on a domestic investment.