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  • Manuel Candal, who was head of international tax at PwC Venezuela, has opened a new firm – Candal & Asociados. The Caracas-based firm has three partners, Manuel Candal, Jésus Candal and Luis Martinez, and expects to add a further two by December 2006.
  • A US appeals court ruled that the case between Paul Reddam and the accounting firm could be arbitrated rather than heard in court. The case involves Reddam's purchase of a tax shelter which left him with a $52 million tax bill.
  • After a court awarded the Church of Scientology over £4 million ($7.5 million), HM Revenue & Customs is likely to have to give several million to companies owed VAT rebates. HM Revenue & Customs had originally said that they would not acknowledge VAT claims from over three years ago. But the Court of Appeal ruled in February 2006, in a case brought by businessman Michael Fleming, that companies could take claims back to when the tax was introduced.
  • John Key, a former investment banker and member of parliament for the National Party, said changes to the taxation of foreign investment, breaks for R&D costs, a lower corporate tax rate, and lower levies for start-ups in high growth industries should all be investigated to make New Zealand more competitive.
  • The Supreme Court in India has issued notice of the special leave petition the income tax department in Mumbai has filed against the Authority for Advance Ruling in a case concerning Morgan Stanley, an investment bank, and its Indian company Morgan Stanley Advantage Services. The petition has been described as "unprecedented".
  • The US state will tax oil producers on net profits rather than gross output in a bid to increase long-term production.
  • The permanent subcommittee on investigations has said Quellos Group, a hedge fund company, is a maker and seller of abusive tax shelters.
  • Deloitte will open the desk in New York on September 12 with an initial staff of seven. Peter Willeme, the head of the firm's international tax practice in Amsterdam, will lead the staff.
  • A Moscow court has knocked $1.5 billion off the tax bill that made the oil company go bankrupt. The court reduced the bill from $13.2 billion to $11.7 billion.
  • Ryuta Takaku, formerly with the Japanese government, joined the Baker & McKenzie team on August 1.