Further UK Consultation Regarding Final Reform of Controlled Foreign Company Rules: UK Publishes Further Proposals for Reforming its Controlled Foreign Company (“CFC”) Rules in 2012

Sullivan & Cromwell LLP - February 22, 2011

The process of revising the UK CFC rules has been underway for about two years, given widespread dissatisfaction among taxpayers with the relative complexity and restrictiveness of those rules, as well as questions about whether the rules in their existing form are compatible with EU law.