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The US Senate voted for the tax reconciliation bill on May 11, meaning only George Bush's signature is needed for the bill to become law. The Senate voted 54-44 in favour, while the House of Representatives gave a 244-185 approval on May 10. The bill, seen as a significant political victory for a President suffering low approval ratings, proposes a two-year extension on.the Subpart F exception for active financing income as well as a Subpart F exeception for cross border payments of dividends, interest, rent and royalties funded by active income.

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.

Denis Weber left Loyens & Loeff in Amsterdam to become professor of European corporate tax at the University of Amsterdam from May 1. His research will include the influence of EC law on national corporate taxes and the possible harmonization of European corporate taxes.

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

Sixth VAT Directive – Articles 21(3) and 22(8) – National measures to combat fraud – Joint and several liability for the payment of VAT – Provision of security for VAT payable by another trader.

Failure of a member state to fulfil obligations - Directive 69/335/EEC - Articles 10 and 12 - Indirect taxes on the raising of capital - Principles of Community law relating to recovery of undue payment.

An EU parent company that has to pay withholding tax on dividends received from a subsidiary located in another EU jurisdiction, when a parent company in the same jurisdiction as its subsidiary is not subject to withholding tax, is a victim of an abuse of freedom of establishment, according to an advocate-general of the European Court of Justice in the Denkavit case

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"

The US and Denmark have signed a new protocol to amend their bilateral income tax treaty that concluded in 1999,. The protocol eliminates the source-country withholding tax on dividends arising from certain direct investments and on dividends paid to pension funds, and reduces tax-related obstacles to trade and investment flows between the two countries

In its first budget, the Conservative minority government in Canada has proposed reducing the the corporate income tax rate from 21% to 19% by 2010. Jim Flaherty, the Minister of Finance, also announced the abolition of corporate surtax from January 1 2008 and a a one-percentage-point reduction in goods and services tax from July 1 2006.