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  • Don Reiser has joined Kilpatrick Stockton as a partner, working out of the firm's New York and Atlanta offices. Reiser was previously with PricewaterhouseCoopers and his practice will focus on international tax where he has more than 25 years experience.
  • The Budget is expected to lessen or remove the tax surcharge, in light of record direct tax collections. A corporate tax reduction is not expected. Finance minister Chidambaram Palaniappan has repeatedly said that tax cuts will depend on tax compliance. But the level of conformity at which cuts will begin has not been set. Tax breaks are also predicted to be lost, starting with corporate sector exemptions. The Budget will be released on February 29.
  • The Business Council of Australia (BCA) is urging the government to reform the corporate tax system. In a pre-budget submission the BCA asked the government to commit to a business tax reform that would include reducing the corporate tax rate and reducing the regulatory burden on business. The BCA argues that the tax burden on companies as a percentage of gross domestic product remains high at 5.7%, almost two and a half percentage points above the OECD average of 3.4%.
  • Sixth VAT Directive – Article 17(2) – Right to deduct – Costs related to advisory services obtained in the course of arbitration proceedings to establish the amount of a claim that forms part of a company’s assets, but arose before its holder became liable to VAT.
  • Directive 90/434/EEC – Common system of taxation applicable to mergers, divisions, transfers of assets and exchanges of shares concerning companies of different member states – Exchange of shares – Treating a profit distribution closely connected with the exchange of shares as a cash payment – Tax avoidance as principal objective.
  • Google's effective tax rate improved significantly for the fourth-quarter of 2006 and for the financial year.
  • Irish companies with several foreign branches will prosper from changes to a tax credit system announced in the Irish finance bill
  • The US firm's Chicago office has hired two tax partners, Lee Christie and Tracy Williams, to boost its insurance tax capability.
  • A report has found that most companies with South African operations spend a disproportionate amount of time on compliance work.
  • Blake, Cassels & Graydon, a Canadian law firm, has made Calgary-based Edmund Gill a partner. Gill, who specialises in corporate, resource, and international taxation, joined the tax practice in 2001 from the firm's oil and gas group.