This content is from: Japan Tokyo suffers tax-reform setback from court ruling Tokyo’s metropolitan government has been ordered to return nearly Y75 billion ($562 million) that it has taken in taxes from 18 banks in the last two years, following a court ruling March 31 2002
This content is from: South Korea Multinationals await Korean stock-option tax cuts The Korean government is considering granting foreign companies tax deductions on the stock options they give to employees March 31 2002
This content is from: Direct Tax Businesses welcome UK tax reforms Big business has welcomed a package of company-friendly tax changes announced by the UK chancellor of the Exchequer March 31 2002
This content is from: Australia Ernst & Young and Andersen unite in Australia Ernst & Young and Andersen announced on March 28 that they have signed a Memorandum of Understanding to integrate Andersen Australia into Ernst & Young March 31 2002
This content is from: Spain Andersen Spain to join Deloitte KPMG’s ambition for a union with the non-US operations of beleaguered Andersen has taken another knock as partners in Andersen’s Spanish arm voted on April 1 to merge with Deloitte & Touche March 31 2002
This content is from: Direct Tax Cook Islands commits to OECD harmful tax initiative The Cook Islands has signed up to the OECD’s initiative on harmful tax practices by committing to improve transparency and establish an effective regime for exchanging tax information by the end of 2005 March 27 2002
This content is from: United States Merrill takes $3m loss in first arb award on employee stock option advice A New York Stock Exchange arbitration panel has slapped Merrill Lynch with a $3 million penalty in a case claiming that the firm provided negligent advice with regard to employee stock options March 26 2002
This content is from: Sweden Ericsson faces $250 million tax probe Sweden’s Economic Crimes Bureau is investigating Ericsson to see if the mobile phone handset-maker has misled the country’s tax authorities March 24 2002
This content is from: Russia Andersen Russia to join Ernst & Young The Russian practice of Andersen has become the latest to split from the rest of the firm and turn its back on a merger with KPMG March 24 2002
This content is from: Direct Tax UK under fire over VAT rules The UK is facing court action from the European Commission over its rules on VAT March 24 2002
This content is from: Direct Tax McDermott continues UK tax growth with in-house hire McDermott, Will & Emery is expanding its London-based tax team to four partners after hiring the vice-president of tax affairs from European telecoms company Carrier1 March 24 2002
This content is from: China Andersen loses China and Hong Kong offices to PwC Merger discussions between KPMG and Andersen could be jeopardized by the announcement that the China and Hong Kong practices have decided to join PricewaterhouseCoopers instead March 24 2002
This content is from: France EU challenges Spain and France on investment tax laws The European Commission is taking action against France and Spain, believing their tax rules discriminate against foreign investors March 24 2002
This content is from: Direct Tax Partners back Andersen-KLegal merger Senior partners at Andersen Legal and KLegal are backing proposals to merge their practices, following talks between Andersen and KPMG to merge their businesses worldwide except in the United States March 19 2002
This content is from: United States SEC relieves pressure on Andersen clients The Securities and Exchange Commission has given welcome relief to concerned clients of professional services firm Andersen by agreeing to accept audits carried out by Andersen in spite of the company’s indictment ove... March 17 2002
This content is from: Gibraltar More tax havens sign up to OECD initiative Gibraltar and the US Virgin Islands have committed to the OECD’s initiative on harmful tax practices, it was announced this week. March 17 2002
This content is from: Direct Tax EC president calls for tax harmonization debate Romano Prodi, president of the European Commission, has called for greater coordination of member states’ rules on budgets and tax policies March 17 2002
This content is from: Direct Tax Bahamas makes qualified commitment to OECD The Bahamas has reached an agreement with the OECD on the organization’s harmful tax practices initiatives, but announced the commitment would be provisional March 17 2002
This content is from: Direct Tax International bodies launch tax forum The OECD, the World Bank and the International Monetary Fund (IMF) have announced they are to work together on tax issues. March 17 2002
This content is from: Direct Tax OECD launches consultation on cross border stock options An OECD working party has proposed a range of solutions to the problems of taxing cross border employee stock options March 17 2002
This content is from: United States US stock-option reforms could harm employees, say opponents Proposals by US senators Levin and McCain for changes to stock-option accounting have angered critics who say the changes would harm company employees March 15 2002
This content is from: United States Fenwick loses senior tax team to McDermott Silicon Valley firm Fenwick & West is losing four senior members of its tax practice to McDermott, Will & Emery in Silicon Valley March 10 2002
This content is from: United States US hands out high-tech tax breaks The US House of Representatives has passed legislation giving IT tax breaks to businesses March 10 2002
This content is from: Direct Tax More tax havens commit to OECD initiative The OECD has announced five more tax havens that have joined the organization’s initiative on harmful tax practices, but the treatment of low-tax regimes within the OECD’s own membership is proving to be a sticking po... March 10 2002
This content is from: Direct Tax European Commission warns over accounting standards The European Commission has warned the International Accounting Standards Board over its plans for stock option accounting March 10 2002
This content is from: Hong Kong SAR Hong Kong heads towards consumption tax The likelihood of consumption taxes in Hong Kong has increased following a government advisory committee recommending the adoption of a Goods and Services Tax March 03 2002
This content is from: Australia Australian authority warns over bond interest The Australian tax authority has warned investors it will not allow interest on linked bond products to be treated as tax deductible March 03 2002
This content is from: Singapore Singapore business leader calls for tax review Singapore should amend its tax regime to make the island state more regionally competitive, according to the chief executive of Singtel March 03 2002
This content is from: Direct Tax Tax havens demand action from OECD members A number of tax havens signing up to the OECD’s initiative on harmful practices have warned that their commitments are conditional on the group of rich nations tackling their own onshore tax havens March 03 2002
This content is from: Direct Tax Business leader urges UK to abolish share-sale levy UK industry is suffering from high levels of stamp duty on share sales, according to the head of Britain’s leading industry association March 01 2002
