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  • The corporate tax cuts included in the recently passed economic stimulus package in the US will have a far greater cost than estimated, media reports say.
  • David Hinds has left Covington & Burling to join Sidley & Austin as a partner in the tax group in London, where he will work on fund formation and fund-related transactions. He is the president of the British branch of the International Fiscal Association.
  • Britain's finance minister has told an employers' group that he is open to cutting the corporation tax rate further. In April 2008, the rate will fall two percentage points to 28%.
  • GlaxoSmithKline, the pharmaceuticals company, is fighting two significant international tax battles with the authorities in the UK and the US
  • Jim Flaherty, Canada's finance minister, says he won't be cutting business taxes in the federal budget on February 26
  • A quarter of UK businesses do not discuss tax accounting in board meetings on a regular basis, a survey has found.
  • Magellan Petroleum, a US oil and gas exploration and development company, will be $13.1 million the poorer after it agreed to settle a tax dispute with the Australian Taxation Office
  • The Australian government has asked a group of tax professionals and officials to look at how to cut the time it takes to enact new tax legislation, improve the quality of the tax laws that are passed and identify the priorities for changes to the tax system.
  • Bob Reynolds reports on new treaties finalised by Australia, Japan, Pakistan, India, Russia and Mexico
  • Jorge Castellon and Ramiro Bravo, of Ernst & Young, say that the lack of TP rules in Mexico can incite controversy