Citaat | Parket bij de Hoge Raad 11 april 2001

Alinea 90 Parket bij de Hoge Raad 11 april 2001

Een alinea uit Parket bij de Hoge Raad 11 april 2001, ECLI:NL:PHR:2001:AB0990.

"(...) careful planning will often be required to ensure that interest deductions do not dilute income from foreign sources thereby wasting double tax credit relief. For example if a company receives dividends from an overseas subsidiary then given the low rate of the UK corporation tax, it is likely that the combination of overseas direct and underlying taxes will cover any UK corporation tax charge. If therefore borrowing was undertaken by the UK company to finance its investment, the interest relief would dilute the overseas earnings and waste foreign tax credit relief. In such circumstances the borrowing would normally be undertaken by a separate UK member of the group in order to allow the recipient company to receive income gross and maximise double tax credits. It is common practice therefore for such dividends to be streamed into an international holding company in the UK group (or "dividend trap company"), which is kept free from interest relieves in order to avoid such dilution." (curs. PJW)

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