Tuesday, December 22, 2009
Vodafone denied £2.2 billion tax appeal over Luxembourg business
The UK's Supreme Court has said that Vodafone cannot appeal against a court ruling earlier this year that it needs to pay £2.2 billion in corporation tax. Vodafone had argued that Vodafone Investments Luxembourg shouldn't pay UK corporation tax as the UK's rules were incompatible with European law. It won a case in 2008 against HM Revenue and Customs but the ruling was overturned by the Court of Appeal earlier this year. The Supreme Court says Vodafone it won't consider an appeal because Vodafone's application “did not raise an arguable point of law of general public importance”. [Sources: AccountancyAge.com; Telegraph.co.uk]