Direct Tax

Archive: Direct Tax

This content is from: Direct Tax

M&S opinion baffles European tax specialists

European tax specialists have said that the opinion of the advocate-general in the Marks & Spencer (M&S) case at the European Court of Justice (ECJ) leaves many questions about the future of international taxation wit...
April 25 2005
This content is from: United States

Baker hires west coast EY tax partner

Baker & McKenzie announced last week on April 21 2005, that tax partner Beth Williams has joined its Palo Alto office from Ernst & Young
April 25 2005
This content is from: Direct Tax

UK election campaigns quiet on business taxes

Political campaigning in the run-up to the UK general election, to be held next week on May 5 2005, is fierce. But ITR Week finds that there is little to distinguish between the three main political parties on corpora...
April 25 2005
This content is from: South Korea

South Korea investigates tax evasion by foreign funds

South Korea's National Tax Service (NTS) has launched tax evasion investigations into at least two foreign private equity funds, prompting concerns about a widespread clampdown on foreign investors
April 25 2005
This content is from: China

China unifies its export rebate rules

China's State Administration of Taxation has released a number of notices bringing together the tax rebate (exemption) rules
April 25 2005
This content is from: Russia

Russia moves to change company tax rules

Corporate income tax regulations are close to change in Russia after a powerful parliamentary body approved new amendments to the tax code
April 25 2005
This content is from: Direct Tax

UK update: Taxpayer victory on double tax relief conundrum

The main issue in dispute between the taxpayer company, a life assurance company, and the Inland Revenue, was how double tax relief is calculated where the receipt that has been subject to overseas tax is included in ...
April 16 2005
This content is from: United States

US tax panel chair reveals progress

In a one-on-one interview with International Tax Review in Washington, DC, Senator Connie Mack, chair of the President’s Advisory Panel on Federal Tax Reform, revealed his thinking so far on proposals to amend the US ...
April 16 2005
This content is from: Direct Tax

UK launches unified tax authority

The UK government launched HM Revenue & Customs (HMRC), the new tax body formed after the merger of the old Inland Revenue and Customs & Excise on April 18 2005
April 16 2005
This content is from: Mexico

Mexican update: New rules for preferred tax regimes

Until December 31 2004, Mexican tax law subjected Mexican taxpayers to immediate taxation on income generated indirectly in jurisdictions deemed to be tax havens
April 16 2005
This content is from: Spain

Spanish update: What the tax overhaul will mean

Corporates can expect some far-reaching changes in the tax arena in Spain. Among the initiatives recently announced, which will be embodied in legislative changes in the short term, reference may be made to the approv...
April 16 2005
This content is from: Germany

Law firms expand German tax teams

Baker & McKenzie, McDermott Will & Emery and Haarmann Hemmelrath have all expanded their tax groups in Germany by hiring tax specialists from accounting firms
April 16 2005
This content is from: Direct Tax

Tax institute formalizes Asian presence

The Tax Executives Institute (TEI), a professional organization of business executives, has formally created an Asian chapter
April 16 2005
This content is from: Direct Tax

UN revamps international tax group

The United Nation's Economic and Social Council has passed a resolution to set up a new international tax body
April 16 2005
This content is from: Direct Tax

EU sets date for Savings Tax Directive
April 16 2005
This content is from: Poland

Polish update: New incentives for service centres in special economic zones

There has been significant change in Polish legislation on special economic zones (SEZs) that substantially increase their attractiveness to multinational investors
April 16 2005
This content is from: Direct Tax

Freshfields reshuffles tax practice

Murray Clayson, a senior tax partner at Freshfields Bruckhaus Deringer in London, has been appointed head of the firm’s global tax practice
April 10 2005
This content is from: Direct Tax

EU update: ECJ decision and opinion favour the taxpayer

The European Court of Justice (ECJ) held on March 10 2005 that limiting the French tax credit for research expenditure to research carried out in France violates the free movement of services principle of article 59 E...
April 10 2005
This content is from: Direct Tax

Advocate-general’s opinion favours Marks & Spencer

Marks & Spencer, a UK retailer, has won the first round of its case at the European Court of Justice (ECJ) against the UK’s system of group relief
April 10 2005
This content is from: Canada

Canadian update: Tax rates fall in federal Budget

The second Budget of the Martin government, and the first of his minority government, was designed to appeal to voters with broad spending in numerous areas
April 10 2005
This content is from: United States

US outbound update: Budget seeks new limits on foreign tax credits and interest stripping

The US Treasury Department recently released its detailed tax proposals for the fiscal year beginning October 1 2005
April 10 2005
This content is from: Direct Tax

UK postpones tax crackdown

The UK government last week passed a truncated Finance Bill that postpones some controversial anti-avoidance measures until after the general election campaign, which formally began on Monday with the dissolution of p...
April 10 2005
This content is from: South Africa

South African update: Budget reduces corporate tax rate

The minister of finance delivered his Budget speech to Parliament on February 23 2005
April 10 2005
This content is from: Italy

Last-minute tax deal saves Italian soccer club

S.S.Lazio, a soccer club in Italy’s top division, has narrowly avoided bankruptcy by agreeing a last-minute deal with authorities over its €140 million ($181 million) tax debt
April 10 2005
This content is from: Brazil

Brazilian update: Brazil simplifies foreign exchange controls

Brazil has been known for decades to have had strict foreign exchange controls
April 10 2005
This content is from: China

China presses ahead with corporate tax reform

Foreign companies in China are set to lose their preferential tax rate after a state official said that the process of equalizing tax treatment for foreign and domestic companies is “highly likely” to begin this year
April 02 2005
This content is from: United States

IRS collects $3.2 billion from tax shelter programme
April 02 2005
This content is from: Direct Tax

Budget measures put on fast track

The UK Finance Bill, which puts into effect much of what the chancellor of the exchequer announced in the Budget on March 16, has been published
April 02 2005
This content is from: Russia

Russia to continue tax clampdown
April 02 2005
This content is from: India

India’s new VAT system already in trouble

Companies with operations in India face mounting confusion and complexity over the introduction on Friday of the country’s new value-added tax (VAT) system
April 02 2005
This content is from: Austria

Austrian update: Exit tax regime catches up with Europe

The Tax Amendment Act 2004 (Abgabenänderungsgesetz) has brought about considerable changes in Austria's exit taxation regime
April 02 2005
This content is from: Australia

Australian update: Transfer pricing audits become more frequent

The Australian Taxation Office's (ATO) concern that multinationals are continually shifting profits has led to increased scrutiny of transfer pricing practices
April 02 2005
This content is from: Brazil

Mining company chief criticizes Brazil’s tax burden

Roger Agnelli, president of Companhia Vale do Rio Doce (CVRD), a Brazilian multinational mining company, has said that the country’s high tax burden could be discouraging billions of dollars worth of foreign direct in...
April 02 2005
This content is from: Ireland

New tax elements to common contractual fund unveiled

The Irish government has published draft legislation to implement the tax and legal changes to common contractual funds (CCF) that are contained in the Finance Act 2005
April 02 2005
This content is from: Belgium

Belgian update: Notional interest deduction on the right track

The introduction of the so-called notional interest deduction (as announced in the February edition) is on the right track
April 02 2005
This content is from: Direct Tax

UK to renew tax agreement with China
April 02 2005

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