A UK appeals court dismissed a bid by Thomson Reuters Corp. and three British subsidiaries to remove £167 million ($211 million) in tax in a dispute with His Majesty’s Revenue and Customs over the scope of transfer pricing deals.
The Court of Appeal (Civil Division) rejected the companies’ appeals against HMRC orders that imposed diverted profits tax on revenue earned in selling intellectual property to a Thomson Reuters company in Switzerland.
HMRC imposed the tax after an advance pricing agreement, or APA, between it and the companies concluded, allowing the tax authority to change the method for ...
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