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  • By Heleen Joman-Dijkhuizen, PricewaterhouseCoopers Belastingadviseurs NV, Netherlands
  • By Lindsey Domingo, PricewaterhouseCoopers, Belgium
  • By Thierry Morgant, Landwell & Associés, France
  • By Robert van der Laan, PricewaterhouseCoopers, Netherlands
  • How GE dealt with e-filing Stephen Francis: advises companies to pay close attention to the textual information After Stephen Francis, manager of tax systems at GE, pressed the button and sent the company's first electronic return to the IRS on May 18, he watched the screen anxiously.
  • Cambodia said the tax holiday for the clothing industry would be extended until the end of 2007 to stop companies moving to Vietnam.
  • The Chartered Institute of Taxation has said the powers of Her Majesty's Revenue & Customs (HMRC), the UK tax authority, should be reviewed by a separate body, rather than through the authority's own consultation process. HMRC suggested an internal review in a paper called 'Modernising powers, deterrents and safeguards'.
  • Peter Costello, the Australian treasurer, said a new bill will cut tax legislation by 4100 pages. The Tax Laws Amendment (Repeal of Inoperative Provisions) Bill, released on June 22, will also give some terms with multiple definitions a single meaning.
  • Colin Cook is moving from a two-year stint as chief executive of KPMG's tax and people services practice in the UK to run the whole firm in Britain. He takes over as UK chief executive from John Griffith-Jones, who will become the firm's UK senior partner on October 1.
  • The UK's rules on thin-capitalization comply with EU law, according to an advocate-general of the European Court of Justice because they are applied on an arm's-length basis, but Leendert Geelhoed believes a taxpayer should be allowed to deduct the cost of funding a subsidiary if it can show that there was a commercial reason for the funding method it chose.