eurealist.co.uk

ECJ rules that UK can’t tax dividends on foreign subsidiaries of British firms – will cost Treasury up to £9billion

The European Court of Justice yesterday ruled that the British Government will have to pay back up to £9 billion to companies with subsidiaries in other EU states whose dividends were taxed under advanced corporation tax (ACT) rules, which were repealed under Gordon Brown. British American Tobacco originally launched the case, but several other multinational companies are now involved.