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  • Cambodia said the tax holiday for the clothing industry would be extended until the end of 2007 to stop companies moving to Vietnam.
  • The EU's council of economics and finance ministers agreed to renew the value-added tax arrangements for e-commerce services, including taxing broadcasting services and certain electronically-supplied services from third countries, for the July 1 2006 – December 31 2006 period, at its meeting on June 7.
  • If at first you don't succeed, try again seems to have been the motto underlining the sale of Ballentine Barbera Group, the transfer pricing and valuation advisers, to CRA, the economics, finance and business strategy consultants. The deal cost CRA $22.7 million.
  • Taxpayers and the European Commission were on opposing sides in the European Court of Justice case on Belgium's coordination centre regime and both came out just about even after the decision.
  • The proposed reduction of the Netherlands' corporate income tax rate to 25.5 %, announced in the draft reforms of the Dutch Corporate Income Tax Act (CITA), will bring the country into line with the larger EU jurisdictions. The reforms, that are due to come into force on January 1 next year, also contain the contentious introduction of separate boxes for patent and group interest income, the legality of which is being debated with EU Commission.
  • The big-four professional services firms are planning to increase their China and Hong Kong tax staff over the next year to match demand brought about the booming economies in both places.
  • Clarke Norton will become a managing director at Duff & Phelps' San Francisco transfer pricing practice. Norton joined from FTI Consulting, where she headed the US transfer pricing department. In Los Angeles, Ray Brown, Paul Burns and Stephanie Graham joined the transfer pricing group. The moves were announced on June 8.
  • The Bundesrat upper house of the German parliament voted in favour of the three percentage point increase, the largest tax increase in the state since World War II, on June 16. The Bundestag, the lower house, approved the increase on May 19. The increase from 16% to 19% will be implemented on January 1 2007.
  • Taxand, a global independent alliance of tax advisers, has expanded to include eight new firms. The countries represented are Canada, China, Cyprus, Norway, Romania, Portugal, Colombia and Peru.
  • Frank Ng will be the first US Internal Revenue Service deputy commissioner (international) for large and medium sized businesses (LMSB). Ng was the industry director for communications, technology and media in LMSB before taking on an acting role in his new job. John Imhoff has been appointed deputy chief of criminal investigation