Search results for

Cono Namorato: fresh perspective on tax shelters Cono Namorato, the departing director of the Office of Professional Responsibility at the IRS, hopes the expertise he gained there will help him in his return to his old law firm of Caplin & Drysdale.

Paul Davies: "More and more, HMRC are looking into whether tax information is documented correctly." Aidan O'Carroll: "What I want to do is to help the teams around the world, the biggest practices in particular, to work together." Paul Davies, who will take over from Aidan O'Carroll on July 1 as head of the UK tax group, has said that he considers tax accounting systems and controls the most important growth area for Ernst & Young's UK tax practice. O'Carroll will become the global tax leader for client services and accounts.

The Treasury Department and IRS in February 2006 issued final regulations (TD 9250) regarding the application of section 367 to cross-border stock transfers to which section 304 applies. The final regulations generally adopt rules that were proposed in May 2005, but with certain revisions.

To date Spain has signed 64 tax treaties. Over the past twelve months, the Spanish tax authorities have been working hard to increase this figure. Three of those 64 tax treaties became effective within this period: Algeria, Macedonia and Vietnam. In this same period, Spain almost concluded negotiations with 12 additional countries. However, the relevant tax treaties have not yet come into force (they are initialled, signed or awaiting parliamentary approval).

Tax legislation – Corporation tax – Offsetting of losses by parent companies – Losses due to a fall in the value of shares held in subsidiaries established in other member states.

The German Bundestag, the lower house of parliament, passed the increase of three percentage points on May 19. The hike, if passed by the upper house – the Bundesrat, will bring the German VAT rate to 19%. At almost one-fifth, it is the biggest tax increase since the last World War.

William Colgin Jr has joined Morgan Lewis' Palo Alto practice from Fenwick & West. Colgin, who will be a partner at the firm, will focus his practice on federal tax controversy.

Vera Pastikova has joined Lovells' Prague tax practice from Mazars, where she was responsible for corporate income tax, real estate tax and VAT.

The European Commission plans to continue to modernize its customs and fiscal procedures if its proposal to renew the Customs 2007 and Fiscalis 2008 programmes from the end of 2008 to 2013 is accepted