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Victor Miesel and Vinay Kapoor have joined the transfer pricing practice of Duff & Phelps, the financial advisory firm, in the New York office.

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

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

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.

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.

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.

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"

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

Sinead Reid has joined DLA Piper Rudnick Gray Cary's tax investigations and disputes team. Reid is an Irish-qualified barrister with six years experience in the field of indirect tax. Before joining DLA Piper, she was a senior manager in the indirect tax litigation team at PricewaterhouseCoopers in London