Tax rules won’t stop foreign investment, the UK’s top court said

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By Christopher Crosby (Oct 26, 2021, 2:24 p.m. BST) – Taxing foreign dividends does not violate European Union law by preventing UK investors from doing overseas transactions, HMRC said in a case in the UK Supreme Court on Tuesday , potentially affecting £ 905 million ($ 1.25 billion) in taxes.

An HMRC attorney has told the Supreme Court that taxes on foreign dividend payments by UK companies are legal under EU rules. (iStock) Tax claims for foreign dividend payments by British companies are legal under EU rules on the free movement of capital, said Rupert Baldry QC, attorney for HM Revenue and Customs, before the Supreme Court.

HMRC is …

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