Qatar: A UK tax tribunal has ruled that Qatar's sovereign-wealth fund is liable for at least £12m ($18m) more in taxes on an affiliate's purchase of the Chelsea Barracks London luxury-housing development, Bloomberg has reported. The panel ruled that Project Blue Ltd must pay £50m in stamp duty, a levy on residential real estate transactions, Her Majesty's Revenue & Customs said. The Qatari Diar Real Estate Investment Co affiliate would have paid £38m if it weren't for the bid to avoid all of the stamp duty land taxes due, it said. "We will be reviewing the tribunal's decision in detail with our advisers and considering our next steps," Qatari Diar said. [AMEInfo.com]
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