This content is from: United Arab Emirates UAE update: Free-trade zone eliminates customs duty on intra-Arab trade February 27 2005
This content is from: Direct Tax O2 releases new VAT compliance software Last Tuesday on February 22 2005 O2, a UK mobile phone operator, released new software that separates business and personal mobile calls, helping tax directors comply with value-added tax (VAT) requirements. February 27 2005
This content is from: Australia Australian update: Government re-election boosts tax reform hopes The re-election of the coalition government has buoyed the business community with heightened expectation of further tax reforms, especially given its clear majority in the Senate from July 1 2005. February 27 2005
This content is from: United States US outbound update: IRS creates advance ruling programme for permanent establishments After years of promising such a step, the Internal Revenue Service (IRS) has issued Revenue Procedure 2005-12 revising its pre-filing agreement (PFA) programme to provide for advance rulings on whether a taxpayer has ... February 27 2005
This content is from: Italy Italian update: EU settles withholding tax rates with San Marino February 27 2005
This content is from: South Africa South African business to pay less tax Companies in South Africa won some tax relief on February 23 2005 when Trevor Manuel, the minister for finance, announced in the 2005 Budget that the corporate income tax rate would fall from 30% to 29%. February 27 2005
This content is from: France Former global head of Andersen Legal sets up Paris boutique Patrick Bignon, ex-global head of EY Law and former world-wide managing partner of Andersen Legal, has launched a new legal management and tax consultancy firm in Paris. February 27 2005
This content is from: Direct Tax Advocate general backs European companies’ claim for VAT recovery Companies in Europe will be able to recover value-added tax (VAT) on input expenses on share issues if the European Court of Justice (ECJ) affirms an advocate general opinion rejecting most European tax authorities’ p... February 27 2005
This content is from: Direct Tax UK government announces Budget date March 16 is the date for the UK Budget, the government announced on February 23 2005. February 23 2005
This content is from: Poland Polish update: Binding tax rulings enter into force With effect from January 1 2005 the amendments to the Polish Tax Code became effective, including that the tax authority is obliged, upon written request of the taxpayer, to issue binding advance tax rulings. A taxpay... February 20 2005
This content is from: Germany Germany promises corporate tax reform Hans Eichel, Germany’s finance minister, has announced that the government wants reforms of the corporate tax system to be in place by 2007. February 20 2005
This content is from: United States US Inbound update: IRS proposes to include foreign mergers in A reorganizations The Internal Revenue Service (IRS) started the new year on a positive note by issuing proposed regulations that provide for the first time that a statutory merger under foreign law may qualify as an A reorganization. February 20 2005
This content is from: Direct Tax European finance ministers move forward with growth pact reforms The EU’s council of finance ministers (ECOFIN) has made progress over differences of opinion on reform of the Stability and Growth Pact, which would reduce budgetary pressure on member states to either reduce spending... February 20 2005
This content is from: Luxembourg Luxembourg update: Budget law extends tax rate reduction On December 21 2004 the Luxembourg Parliament passed the Budget Law for 2005. Although there will be no changes to tax rates, the Budget Law provides for an extension of the law of July 30 2002, which was due to expir... February 20 2005
This content is from: United States Government tax specialists set up US consultancy firm Two senior US government tax officials, Barbara Angus and Gregory Nickerson, have left public service to set up their own tax consultancy firm. Angus & Nickerson opened for business in Washington, DC on February 7 2005. February 20 2005
This content is from: Belgium Belgian update: Government plans law on notional interest deduction At the outcome of the cabinet meeting on December 23 2004, the Belgian government announced plans to introduce legislation in June 2005 that will allow companies to deduct a notional (deemed) interest deduction on equ... February 20 2005
This content is from: Direct Tax Bush’s tax reform panel asks for input Connie Mack, chairman of the US President’s Advisory Panel on Federal Tax Reform, asked last Wednesday for greater input from taxpayers on the debate on ways to amend the US tax code. February 20 2005
This content is from: Canada Canadian update: Further relief for public company spin-offs The "butterfly reorganization" is the name in Canada for the type of reorganization by which a Canadian corporation, call it the distributor, can distribute property to one or more of its corporate shareholders on a t... February 14 2005
This content is from: Venezuela Venezuela closes 80 McDonald’s outlets over tax dispute The Venezuelan tax authorities (SENIAT) closed down 80 McDonald’s fast-food restaurants for three days ending on February 5 2005 as part of a tougher approach on tax evasion throughout the country February 14 2005
This content is from: Direct Tax EY focuses on tax policy liaison Christopher Sanger, a former tax director at Deloitte, has joined Ernst & Young in the UK to spearhead the firm’s new initiative to work closer with the UK government on tax policy February 14 2005
This content is from: Ireland Irish update: Budget adds to holding company appeal The minister for finance announced the government's budget for 2005 on December 1 2004 February 14 2005
This content is from: Direct Tax US and New Zealand regularize fiscally-transparent entity regime Fiscally-transparent entities from either the US or New Zealand will receive tax treatment identical to that they would receive in their home country when earning income in the other, as a result of an agreement betwe... February 14 2005
This content is from: Netherlands Mexican update: Tax reform creates definition of business profits The tax bill for 2005 was approved on November 13 2004 and published in the official gazette on December 1 2004 February 14 2005
This content is from: Direct Tax UK renews anti-avoidance campaign The UK government is maintaining its attack on corporate tax avoidance with the introduction of three new measures February 14 2005
This content is from: Netherlands Dutch update: New rules on tax treatment of foreign entities When dealing with the Netherlands, entities that are tax transparent in their home jurisdiction often find that they are regarded as taxable entities for Dutch tax purposes February 14 2005
This content is from: Direct Tax UK research groups win tax breaks The UK government has unveiled a scheme to ensure that researchers that develop their own ideas do not have to pay income tax or national insurance when the value of their shares in a so-called “spin-out” company incr... February 14 2005
This content is from: Japan Japan plans withholding tax on private equity funds Foreign investors in Japan could face a crippling 20% withholding tax after the country’s tax authorities moved to close what they say is a loophole in the taxation of private equity funds February 14 2005
This content is from: Direct Tax New Expert Guides released Legal Media Group has released its new Expert Guides on tax, real estate, and securitization and structured finance. February 07 2005
This content is from: Direct Tax UK update: Lords clarify law on taxing statutes Two important decisions on the judicial approach to the construction of taxing statutes were handed down on November 25 2004 February 06 2005
This content is from: Norway Norwegian update: Refunds for withholding tax on dividends The Norwegian parliament passed a new tax reform in December 2004 February 06 2005
This content is from: Argentina Argentine update: New measures to recover VAT related to fixed assets Last December the Argentine executive has promulgated the Law 25988 (passed by the Congress on December 16 2004) that enables taxpayers to recover value-added tax (VAT) paid on certain acquisitions of fixed assets and... February 06 2005
This content is from: Australia BDO hires Baker partner as Australian head Nick Gangemi, a former tax partner at Baker & McKenzie, has joined BDO in Australia as national tax technical director February 06 2005
This content is from: United States Tax partner on Academy Award secret ballot team Rick Rosas, a tax partner with PricewaterhouseCoopers in Los Angeles will be one of three people that will know the winners of the Academy Awards before they are announced during the ceremony on February 27 2005 February 06 2005
This content is from: Spain Spanish update: Court decisions are critical to international tax The 2005 Budget Law has not provided for any tax measures of great relevance. The socialist government, in office since March 2004, has promised a major tax reform for late 2005 the features of which are not yet known February 06 2005
This content is from: United States US Budget boosts tax enforcement funds President Bush’s Budget for the 2006 fiscal year, released on February 7 2005, requested an additional $500 million for the Internal Revenue Service’s (IRS) tax enforcement activities February 06 2005
This content is from: Germany German update: Tax authorities reject cross-border consolidation In December 2004 the German tax authorities issued a directive addressing a judgment rendered by Germany's highest tax court in January 2003 February 06 2005
This content is from: United States PricewaterhouseCoopers hires IRS veteran Tom Wilson, who held senior positions at the Internal Revenue Service (IRS) in a career spanning 36 years, has joined PricewaterhouseCoopers’ San Francisco office February 06 2005
This content is from: Direct Tax UK chancellor tightens CFC rules The UK government has presented its changes to controlled-foreign-companies (CFCs) legislation to parliament February 06 2005
