New Zealand Supreme Court Dismisses Appeal of Decision that Resident May Not Claim Tax Sparing Credit for China CFC

A judgment of the New Zealand Supreme Court has been issued that dismisses an application for leave to appeal a decision of the Court of Appeal that a resident of New Zealand may not claim a tax sparing credit in respect of tax concessions granted in China to that resident's controlled foreign corporations (CFCs). That decision had overturned an earlier decision of the High Court that a tax sparring credit could be claimed ({News-2018-04-03/T/3-previous coverage}).

In the judgment, the Supr…