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  • 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
  • A KPMG survey of senior tax executives at large multinationals has found that 62% of respondents will be moving assets or operations to low-tax jurisdictions. This is a 13 % increase on last year's s survey figure of 55%. 120 tax executives were surveyed.
  • Less than one in five tax departments at some of the world's largest firms have tax software linked to financial accounting systems, a KPMG survey has found. This is despite almost three-quarters of tax executives surveyed believing they need links their company's accounting systems or better integration of tax technology. KPMG surveyed 120 senior tax executives from multinational corporations.
  • Spain's government will cut 5 percentage points off the corporate income tax rate in two to three years not five years, as was originally proposed. Spain announced on January 20 that the corporate rate would be reduced from 35% to 30% by 2011.
  • The New Zealand government has introduced a draft Bill into parliament that would reform how investment income is taxed.
  • Paul Davies, the head of tax at Ernst's & Young's industrial and commercial office, will take over from Aidan O Carroll as the head of the firm's UK tax practice on July 1. Davies will also be responsible for the Northern Europe, Middle East, India and Africa group. "It's certainly a challenge. It's going to be a question of understanding each of the businesses and then identifying specific goals," said Davies, in an interview with International Tax Review. He cites India as an area where the firm expects high growth. O'Carroll will become Ernst & Young's global tax leader for client services and accounts.
  • The Securities and Exchange Commission has announced plans to improve how the Section 404 internal control requirements of the Sarbanes-Oxley Act work
  • The Mongolian copper and gold mining industry said on May 16 it would protest a 68% windfall tax on profits. The tax, which was passed on May 12, will be levied when copper prices go above $2,600 a tonne and when gold is higher than $500 an ounce.