Direct Tax

Archive: Direct Tax

This content is from: United States

US accounting regulator says no exemption for foreign auditors

The new US accounting regulator has courted controversy with its very first act by voting last week to extend its registration requirements to non-US firms
April 26 2003
This content is from: United States

FASB rules will hobble structured finance, says market survey

A survey has revealed the market is frustrated with the Financial Accounting Standards Board (FASB)’s new rules on off-balance sheet financing
April 12 2003
This content is from: Italy

Orrick poaches E&Y team for Italian launch

Orrick Herrington & Sutcliffe is opening an office in Milan with 23 lawyers from Ernst & Young’s Italian legal arm, Studio Legale Tributario
April 05 2003
This content is from: United States

IRS takes aim at employee leasing

The US Internal Revenue Service (IRS) and Treasury are cracking down on offshore-deferred compensation arrangements involving domestic and foreign employee leasing companies and urging taxpayers using the schemes to c...
April 05 2003
This content is from: Direct Tax

UK Inland Revenue agreement with C&W releases £1.5 billion

Telecommunications firm Cable & Wireless (C&W) has finalized an agreement with the UK Inland Revenue, releasing £1.5 billion ($2.3 billion), which C&W paid into escrow on January 13 2003 in respect of the disposal of ...
April 05 2003
This content is from: United Kingdom

Guernsey opts for withholding tax under the EU Savings Directive

Guernsey has concluded that if and when the EU tax package, including the Savings Directive, is adopted it will recommend introducing a withholding tax on EU resident individuals’ savings interest instead of exchangin...
April 05 2003
This content is from: United States

HealthSouth executives admit inflating earnings

Five of HealthSouth's executives, including the group vice president of accounting have pleaded guilty to conspiring to inflate company earnings
April 05 2003
This content is from: Direct Tax

EY poaches PwC financial services partner

Ernst & Young has lured the former global investment management tax leader from big four rival PricewaterhouseCoopers
April 05 2003
This content is from: Direct Tax

ImClone lowers earnings to cover CEO’s tax bill

Biotech company ImClone announced last week that it is delaying the announcement of its financial results and may be forced to restate its earnings from 2001 onwards to cover the unpaid taxes of its former chief execu...
April 05 2003
This content is from: Australia

Integral Energy strikes GST deal with the Australian tax office

The Australian Tax Office (ATO) and Integral Energy have signed an advanced compliance agreement on goods and services tax (GST)
April 05 2003
This content is from: United States

PwC hires ex-Congress tax official

PricewaterhouseCoopers has hired Lindy Paull, the former chief of staff of the Congressional Joint Committee on Taxation as co-managing partner of its Washington national tax services practice (WNTS)
April 05 2003
This content is from: France

Vivendi responds to claims of $2.7 billion tax liability

French media company Vivendi Universal has reacted angrily to press reports claiming that it faces a potential tax liability of $2.7 billion over its merger in the year 2000 with Seagram
April 05 2003

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