Taxing the internet goldrush Caught up in the excitement of using e-technologies, meeting e-challenges and working on e-time, many businesses overlook the fundamental tax aspects. The team* at KPMG, Silicon Valley recommends a careful approach to the e-highway
EU pledges savings tax solution by June Many people assumed that savings tax negotiations were dead in the water after EU members failed to agree in Helsinki. But amid rumours of changes in voting structure, the European Commission tells International Tax Review that a solution is right around the corner. Rufus Jones reports
Hong Kong to introduce first ever sales tax The Hong Kong government will try to introduce its first ever sales tax in the March budget.
IT firms look forward to Indian budget Information technology associations in India are hoping that the Ministry of Finance agrees to their demands for tax breaks in the forthcoming budget.
New Tokyo tax sends banks reeling The governor of Tokyo, Shintaro Ishihara, has outraged Japan’s largest banks by introducing a 3% corporate tax on their activities in the capital.
News in brief US budget aims to tear tax shelters down, Latin America double tax treaties, Canary Islands to get EU- approved tax breaks, Ernst & Young in hi-tech alliance, WTO membership will slow Chinese tax growth
Russia's tax codes near completion Reports from Russia indicate that the country’s long-awaited tax code reforms are near completion.
US enters Chile treaty negotiations The US Treasury has announced that it is negotiating a tax treaty with Chile. Though it is unclear how close the two countries are to reaching an agreement, a successful outcome would bring about only the second tax treaty between the US and a South American country.
New Zealand issues draft New Zealand’s Inland Revenue has just released its latest guidelines for transfer pricing. It is an area where taxpayers need all the help they can get. But some important departures from OECD guidelines mean that they will have to watch their step
Italy eases up on non-residents Non-residents are set to benefit from changes to legislation which grant them exemption from tax on financial income. However, these new rules must be considered in conjunction with a close reading of existing laws. By Stefano Serbini of Freshfields, Milan
Turning the investment flow back on Recent price rises have led to a rejuvenation of Middle East oil and gas investment activity. In this volatile business environment high tax rates may trap the unwary. Neil MacLeod of Arthur Andersen, Dubai, recommends careful forward planning
Tax remoulds corporate Germany Corporate Germany could look very different if the provisions of the proposed Tax Reform Act become law. Jürgen Hartmann, Hans-Peter Niedrig, Axel Schiller, and Ronny Klopfleisch of KPMG, Düsseldorf study the implications
Germany tightens cost-sharing rules New German regulations narrow the scope and broaden the formal requirements of cost-sharing arrangements. Multinationals have until the end of the year to make the necessary changes. By Alexander Vögele of KPMG, Frankfurt am Main
Netherlands Antilles seeks new image Recent legislation in the Netherlands Antilles aims to alter its image as a tax haven and boost its status as a financial services centre. Dennis Evertsz and Kees-Jan Quirijns of Deloitte Touche Tohmatsu, Curaçao advise investors to reassess their positions
Budget reflects upbeat mood More prosperous times for South Africa are reflected in a realistic budget that moves away from the ideological approach of the recent past. IP owners, however, may be in for a nasty shock. Peter Surtees of Deneys Reitz examines the significant changes
Argentina leads on thin capitalization If others follow where Argentina has led, Latin American tax authorities may soon be scrutinizing heavy debt-financing. Multinationals should take note. By Mario de Castro, Manuel Diskenstein, John Mascaro and Romero Tavares, Deloitte & Touche LLP
