The court considered the treatment of losses in a London branch of the non-resident Bank. Had the company been resident it could have set off the losses. It claimed that the refusal was an unlawful discrimination.
Sedley, Arden, Moses LJJ
 EWCA Civ 119
UK-Switzerland Double Taxation Convention of 8 December 1977, Double Taxation Relief (Taxes on Income) (Switzerland) Order 1978, Income and Corporation Taxes Act 1988 788
England and Wales
At SCIT – UBS Ag v Revenue and Customs SCIT 7-Jun-2005
SCIT DOUBLE TAXATION AGREEMENT – non-discrimination – whether UK permanent establishment of Swiss company entitled to payment of the tax credit on dividends under s 243 Taxes Act 1988 – yes, on the interpretation . .
Appeal from – UBS Ag v HM Revenue and Customs ChD 7-Feb-2006
The bank, based in Switzerland sought tax credits for the activities of its London branch.
Held: Although the argument under s243 directly failed, the claim under section 788(3) had to succeed. The Swiss company was entitled to the same tax . .
These lists may be incomplete.
Updated: 01 February 2021; Ref: scu.248929