EU corporate tax drive boosted by landmark ruling

The European Court of Justice (ECJ) on Tuesday boosted the European Commission's bid to harmonise member states' corporate taxation systems, in a landmark ruling that is set to save retail giant Marks & Spencer billions in UK tax.

The EU's top court ruled in favour of Marks & Spencer, a British retail firm, which had argued that, in calculating its UK tax bill, it should be compensated for losses in its shops in other EU member states France, Germany and Belgium.

UK law has so fa...