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  • ATO demands more from James Hardie
    James Hardie, a building materials and building products company, has been hit with an assessment of A$412 million ($295 million) for 2006 by the Australian Taxation Office. The company said the amended assessment concerned an internal corporate restructure of the James Hardie Group in 1998 ahead of the proposed initial public offering of 15% of a European subsidiary on the New York Stock Exchange, a transaction that did not go ahead
    April 02 2006
  • HMRC unit head joins PricewaterhouseCoopers
    The former head of the avoidance intelligence unit Ray McCann has joined the big-four firm's tax investigations team. McCann has 30 years experience at HMRC and the Inland Revenue. He has held senior positions in the large business service, special compliance office and special investigations section.
    April 02 2006
  • KPMG partner pleads guilty to conspiracy and evasion
    Former KPMG San Diego tax partner David Rivkin has agreed to cooperate with the US government after pleading guilty to one count of conspiracy and one count of evasion on March 27. Authorities have charged 17 ex-KPMG people as well as a lawyer and an investment insider with setting up bogus tax shelters.
    April 02 2006
  • liguori-apr05.jpg
    Alvarez & Marsal New York gets new managing director
    New managing director Albert Liguori joined Alvarez & Marsal's New York practice from Deloitte's global tax strategy team. Liguori has over 14 years experience of the tax aspects of corporate restructuring, M&A and post-merger integration.
    March 31 2006
  • ECJ rejects discriminatory German branch taxation
    In its CLT-UFA decision from February 23, the ECJ held that the freedom-of-establishment principle precludes charging the profits of branches and subsidiaries from other EU countries to differing rates under the old system of corporation tax.
    March 31 2006
  • New tax changes to the company law
    The new Company Law, which includes many drastic and significant changes in corporate legal treatments, will be effective from May 1 2006. The tax reform plan for 2006 also includes the following changes related to the new Company Law.
    March 31 2006
  • The Revenue's latest moves
    Ireland is working on a number of double tax agreements, to further enhance its tax attractiveness.
    March 31 2006
  • Financial services investors win tax breaks
    On February 16 the Brazilian authorities issued Provisional Measure 281 (PM 281), which granted specific tax-breaks for foreign investors in the Brazilian financial market. The rules set forth by PM 281 can be summarized as follows.
    March 31 2006
  • Tax authorities revise input VAT on capital goods
    Referring to the ECJ case C-378/02 of June 2 2005 (Waterschap Zeeuws Vlaanderen), the Belgian VAT authorities has revised its position regarding the recovery of input value-added tax (VAT) incurred on capital goods that were purchased by a VAT taxpayer in his former capacity of non-taxpayer (Administrative Decision ET 110.412 of December 20 2005).
    March 31 2006
  • Foreign investor tax breaks likely to end
    It has been more than a decade since the last major tax reform China implemented in the 1994. China's fast economic developments as well as its accession into WTO in 2001 called for a new round of reform. In fact, the relevant authority has long been preparing for the changes and in the recent years, government seems trying to press it ahead.
    March 31 2006
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