“The United Kingdom’s thin capitalisation (‘thin cap’) provisions which remained in force, in a potentially discriminatory form, until 2004 were not proportionate to achieve the purpose of preventing abusive tax avoidance because they did not allow for a separate defence of commercial justification and so constituted a restriction on freedom of establishment contrary to art 43EC.”
WLR Daily, 18th November 2009
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
