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The Business Roundtable, which represents 160 chief executives from America's leading companies, has urged Congress to extend the dividends and capital gains investment incentives contained in H.R. 4297, the pending tax reconciliation legislation.

The management of special investment funds is exempt from VAT, according to the European Court of Justice's ruling in the Abbey National case. Depositary services are still taxable, however. Jeremy Woolf of Pump Court Tax Chambers, instructed by Cameron McKenna, argued the case for Abbey National. "A serious fiscal obstacle to efficient outsourcing will be removed and this will further open Europe up as a market for the funds industry," said Peter Mason, the Cameron McKenna consultant who led the team advising Abbey

Peer Steinbrueck, the German finance minister, has denied claims by Sueddeutsche Zeitung, German newspaper, that the government is planning to bring forward corporate cuts. The paper claimed that Steinbrueck said he wishes to accelerate the pace of corporate tax reform to defeat competition for investment from the new Eastern European member states from the EU. Steinbrueck, however, insists that the changes will go ahead "as planned in 2008"

Sixth VAT Directive – Article 13B(d)(6) – Management of special investment funds – Exemption – Meaning of ‘management’ – Functions of a depositary – Delegation of administrative management function.

Sixth VAT Directive – Article 28 – Reduced rate taxation (zero-rate) – Supply of caravans – Contents supplied with them being excluded from the zero‑rate.

Freedom of movement for persons – Freedom of establishment – Law on controlled foreign companies – Attribution to the parent company of the profits of its subsidiary established in another member state as those profits arise – Obstacle – Justification – Counteraction of tax avoidance.

Laurence Toxé has become a partner on of Norton Rose in Paris. Toxé specializes in M&A, LBOs, venture capital, collective investment, media and corporate structuring, sector focus international corporate finance and financial institutions.

Petr Hájek, former head of the Czech government's business environment and legislation department, has joined PricewaterhouseCoopers, where he will work on service and client development. Hájek has negotiated with the European Commission on state aid policy and worked on bankruptcy reform.

Tax avoidance used to be a respectable term. It once referred to the management of a taxpayer's affairs, within the law, so they could reduce the amount of tax they paid. Now with tax authorities being more and more aggressive in seeking the money which they believe is being kept from them illegally, the mention of the term immediately puts minds some finance ministry officials around the world into fearsome mode. As tax collectors are now focused on the tax gap, they are looking at commonly used structures from a new perspective. The phrase tax planning is almost taking on a suspect connotation nowadays too.

Linklaters carried off four awards at International Tax Review's European Tax Awards 2006 in London, including the most prestigious prize of the evening for European tax firm of the year