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The UK and Switzerland have signed a protocol amending the double tax treaty between the two countries which dates from 30 years ago

Directive 90/434/EEC – Common system of taxation applicable to mergers, divisions, transfers of assets and exchanges of shares – National decision to tax an exchange of shares – Exchange of shares – Distribution of a dividend shortly afterwards – Abuse of rights.

Michael Wistow is joining Berwin Leighton Paisner in London as head of tax. He is a partner at Clifford Chance. His practice covers the finance and real estate markets, including bespoke property funds, securitisation, leasing and tax-based structured financings.

Crowell & Moring, a law firm with its headquarters in Washington, DC, has set up a tax practice in New York. Viva Hammer, formerly Associate Tax Legislative Counsel in the Office of Tax Policy at the US Treasury, joins the new group as a partner. She will work with one associate.

Directive 69/335/EEC – Indirect taxes on the raising of capital – Capital duty – Tax on the transfer of shares.

The Vietnamese ministry of finance is considering a cut in corporate income tax from 28% to 25% in order to attract more foreign investment.

Venezuela has reduced its value added tax (VAT) rate for the second time this year. In March the rate was cut to 11% from 14% and on July 1, it fell again by two percentage points, to 9%, making it the lowest in Latin America

Free movement of capital – Taxation of dividends – Exemption from tax of dividends from shares in companies established in the member state – Concession in respect of tax deducted at source on dividends from shares in companies established in another member state – Limitation of that concession to the amount which a resident shareholder could offset by virtue of a convention for the prevention of double taxation – Limitation of that concession by reference to the holdings of non-resident shareholders in the capital of the investment company.

The European Court of Justice's verdict in the JP Morgan Fleming Claverhouse investment trust case on June 28 could cost Britain £300 million ($605 million) in value added tax (VAT) that it has to refund to taxpayers

Jeremy Spector, a specialist in public finance tax, has become a member of Mintz Levin Cohn Ferris Glovsky & Popeo in its New York office. He was formerly a partner of Blank Rome. His clients include state and local governments, agencies and authorities, non-profit corporations, institutional investors, service providers, bond trustees and underwriters