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  • Solomon takes tax policy job
    The US president has nominated Eric Solomon to be assistant secretary of the treasury for tax policy. The role means he will analyze, develop and implement federal tax policies and programmes
    May 14 2006
  • New CIOT president highlights rule of law
    The return of the rule of law to taxation and the a greater recognition for tax advisers as professionals will be John Cullinane's objectives during his year as president of the UK's Chartered Institute of Taxation. Read the June issue of International Tax Review to find out the Deloitte partner's views on the state of the tax profession in the UK and how he intends to achieve his aims as president of CIOT.
    May 14 2006
  • IRS department head returns to Caplin & Drysdale
    Cono Namorato has left his director's role at the IRS office of professional responsibility to return to his previous firm Caplin & Drysdale as a tax partner, specializing in compliance. Namorato was the highest ranking enforcer while at the IRS, and this is expected to be invaluable in the current tax shelter climate of the U.S. "The combination of being on the inside of the IRS and the department of justice will help me greatly," he said
    May 14 2006
  • European VAT changes on the way
    The European Commission is to produce proposals to reform VAT legislation on financial services and insurances by the end of 2006.
    May 14 2006
  • US chief executives call for tax cuts
    "If US corporations are to remain competitive with foreign-headquartered firms, they cannot be subject to corporate tax rates that are ten percentage points or more higher than those of their competitors," said John Castellani, president of the Business Roundtable, in evidence to a hearing of the US House Committee on Ways and Means Subcommittee on Select Revenue into competitiveness on May 9. The business group issued a report, Taxing US Corporations in the Global Marketplace, on the same day
    May 14 2006
  • Chávez doubles Orinoco oil tax
    Venezuelan president Hugo Chávez raised royalty taxes for energy companies working in the oil-rich Orinoco belt from 16.6% to 33.3% on May 7. Chávez believes that the tax hike will bring $885 million in extra revenue.
    May 14 2006
  • Australia announces business-friendly budget
    The Australian budget, released on May 9, featured several business tax cuts and incentives. The measures include small business tax reductions of A$435 million ($336.8 million) over four years, to lower compliance costs and increase access to small business tax relief arrangements, along with capital gains tax concessions. A$3.7 billion ($2.86 billion) was pledged to counter depreciation of newly acquired eligible assets, which will support the take up of new technology.
    May 14 2006
  • Two new hires expand TP practice for Duff & Phelps
    Victor Miesel and Vinay Kapoor have joined the transfer pricing practice of Duff & Phelps, the financial advisory firm, in the New York office.
    May 14 2006
  • IRS chooses new associate chief counsel
    Lew Fernandez has become associate chief counsel, income tax and accounting at the US Internal Revenue Service. He will be responsible for providing legal advice and support on federal tax issues concerning tax accounting and other areas of corporate and individual income tax
    May 14 2006
  • OECD wants comments on transfer pricing guidelines
    The OECD has asked for views on comparability issues affecting transfer pricing methods. The methods were introduced by the 1995 transfer pricing guidelines. Comments can be sent until November 30 2006. The OECD made the request in the 'Comparability: Public Invitation to Comment on a Series of Draft Issues Notes' paper published on May 10.
    May 14 2006
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