HM Revenue and Customs v UBS Ag: CA 21 Feb 2007

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
[2007] EWCA Civ 119
Bailii
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
Citing:
At SCITUBS 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 fromUBS 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