British banking giant Barclays has succeeded in obtaining a €120 million tax refund from the Revenue Commissioners, following a challenge to the basis on which two Dublin-based insurance subsidiaries had been taxed. The two subsidiaries, Barclays Insurance (Dublin) and Barclays Assurance (Dublin), claimed a refund of Irish tax paid after striking a deal with the British tax authorities.
The agreement paved the way for Barclays to seek refunds under the terms of the double-taxation treaty...
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