Denying Tax Amortization for Goodwill in Corporate Restructuring – A Controversy Surrounding the Scope of Intangibles

Abstract

This article analyses the tax amortization of goodwill against the backdrop of M/S Standard Chartered Bank Pakistan, a case decided by the Sindh High Court. The author reviews literature to ascertain the scope of intangibles. His findings suggest that goodwill is a melting pot of unidentifiable intangibles, He argues that the Court misapplied the ejusdem generis rule when interpreting the definition of goodwill in tax law of Pakistan.