Taxing problem assumes colossal importance

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Series Details 31.1.05
Publication Date 31/01/2005
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Major analysis. Marks & Spencer's legal battle with the UK Government could have a ripple effect throughout the European Union and trigger far-reaching changes in the tax laws of most European countries. In a court case beginning on 1 February 2005 in the European Court of Justice, M&S will claim the UK Government has contravened EU law by not allowing tax losses from its overseas subsidiaries to be offset against its UK profits. If M&S wins the case, most European countries would be required to overhaul their tax laws.

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