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Cable & Wireless Australia & Pacific Holding BV (in liquidatie) v Commissioner of Taxation [2017] FCAFC 71

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TAXATION - share buy-back - dividend withholding tax payable by non-resident - part of off-market purchase price deemed to be dividend - part of purchase price debited against amounts standing to the credit of the share capital account of the company is not dividend - application for refund of withholding tax claimed to have been paid in error - share capital account - buy-back reserve account - whether record of transaction into which company had entered in relation to share capital - whether record of financial position of the company in relation to its share capital - substance and form of share buy-back transaction - appeal dismissed

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