US Supreme Court accepts PPL appeal in British tax case

WASHINGTON Mon Oct 29, 2012 10:00am EDT

WASHINGTON Oct 29 (Reuters) - The Supreme Court agreed on Monday to consider whether a U.S. company is entitled to a tax credit when it pays a so-called "windfall tax" imposed by the United Kingdom.

At issue is a ruling against the U.S. energy company PPL Corp, which had taken a stake in Britain's South Western Electricity Plc, among the companies included in a UK privatization of 32 companies in the 1980s and 1990s.

A decision is expected by the end of June.

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