Geraldine Chan

Jul 23, 2024 | lexology.com | Graeme Cooper |Hugh Paynter |Ryan Leslie |Geraldine Chan

A majority of the Full Federal Court has upheld an appeal by PepsiCo against the first instance decision which had held it liable to royalty withholding tax and (in the alternative) found it had triggered the diverted profits tax provisions. Given the split in the Full Federal Court, and the disagreement with the judge at first instance, an application for special leave to appeal by the ATO to the High Court seems highly likely, especially on the diverted profits tax issues.