Magazine
March 2002

Magazine Archive

Parent subsidiary directive: the long reach of Athinaiki

The recent judgment of the ECJ in the Athinaiki case has possible implications outside its reference country of Greece. This article looks at how the decision could affect the tax systems of five other member states: the UK, France, Germany, Belgium and the Netherlands. By Patrick Tardivy, Martin Schiessl, Axel Haelterman, Michiel Sunderman and Roger Berner of Freshfields Bruckhaus Deringer in Paris, Frankfurt, Brussels and Amsterdam

Australia steams ahead with yet more tax reform
Tax advisers relieved by South African budget
Antigua commits to OECD
European Commission hits back at customs fraud
EU e-commerce tax angers US
Argentine transfer pricing bungle raises concerns
Danish draft legislation to improve industry competitiveness
Transfer pricing at a time of economic downturn

The US economy went into recession in March 2001. One year on, how and where is this reflected in transfer pricing? By Michael J McKee, Robert C Miall and W Scott McShan, Ernst & Young, North America and Europe
Is the UK going Dutch?

The UK has abolished ACT on dividends and on certain royalty payments, introduced onshore tax credit pooling rules and is now proposing certain tax-free disposals of substantial shareholdings. In light of this Tim Sanders and Fintan Clancy of Skadden, Arps, Slate, Meagher & Flom, London, consider whether the UK is the new Netherlands
Canada targets transfer pricing transgressions

Canada has an aggressive new agency determined to secure its share of international trade revenue. Substantial penalties and exhaustive audits await those who do not get their affairs in order at the earliest possible opportunity. By Hendrik Swaneveld, Martin Przysuski, Venkat Nagarajan and Sam Krishna, BDO Dunwoody LLP, Toronto
Have facts, will win in California

Despite the state's aggressive reputation as a complex taxing regime, most California court cases are won and lost on the facts: this can give the taxpayer the advantage. By Eric J Coffill, Morrison & Foerster LLP, Sacramento
Mexico fudges tax reform 2002

Rather than instigate a thorough process of reform, the Mexican Congress has opted for adjustments to the exisiting tax framework. Further change can be expected. By Miguel Valdez, Federico Aguilar and Lissett Tautfest of Ernst & Young, Chicago and Mexico City
New CGT regime for UK substantial shareholdings

Where will UK companies fit in group structures when the UK capital gains exemption for disposals of substantial shareholdings takes effect in April 2002? Multinational tax planners take note. By Guy Brannan and Mike Hardwick and Lynne Walkington, Linklaters, London
Ireland continues to woo international business

Ireland is continuing its efforts to be an attractive location for mobile international investors. New changes expected to be introduced the forthcoming Finance Act 2002 should continue this tradition. By Gary O’Mahony, Ernst & Young, Dublin
US loses appeal in ETI dispute

US trade relations with the EU are put under pressure following WTO ruling, new guidance on check-the-box procedures are issued and APAs come under the spotlight. Hal Hicks, David Benson and Margaret O’Connor of Ernst & Young, Washington DC, look at the latest developments on the US tax scene
Free trade zone companies
ECJ jurisdiction over Danish case may affect French merger regime
Lower court sees server as permanent establishment
Consolidated tax return system
New tonnage tax system for shipping companies in Spain
Tax gets a look in as SAB goes global
Deals
Accounting industry looks at global standards
Tax consulting hits troubled times in UK