ITR Search | International Tax Review

New head of tax for Lovells in Czech Republic

Lovells has hired Bohdana Karkanova as head of tax in the firm's Prague office. Karkanova previously built and led the tax department of Mazars, an international business advisory and accountancy firm, in Prague

January 09 2006

Isle of Man to meet EU tax obligations

The Isle of Man government will introduce draft legislation before the end of this financial year on April 5, as part of its commitments under the EU Code of Conduct for Business Taxation. The Bill will repeal the tax legislation relating to international business companies, non-resident company duty, exempt companies, exempt insurance companies and exempt managed banks. If passed, these changes will take effect from April 62007.

January 09 2006

Indian business wants no more FBT

In its pre-Budget memorandum, the Confederation of Indian Industry has urged the minister for finance to abolish the fringe benefits tax or allow companies to pay an extra 1% in corporate tax to achieve the government's objective of widening the corporate tax net. The body favours one corporate tax rate rather than additional charges, such as the one for education. The Budget for 2006-2007 is due to be unveiled at the end of February

January 09 2006

US tax lawyers hit out at Senate tax legislation

The insertion of the economic substance doctrine into the US Internal Revenue Code will affect bona fide business transactions which are not connected to tax shelters, according to the Tax Section of the American Bar Association. The measure was contained in the Tax Relief Act of 2005, which was passed by the Senate in November.

January 09 2006

Centralan Property Ltd v Commissioners of Customs & Excise

Sixth VAT Directive – Article 20(3) – Capital goods – Deduction of input tax – Adjustments of deductions – Immovable property – Disposal by means of two connected transactions, one exempt, the other taxable – Apportionment.

December 15 2005

Centro di Musicologia Walter Stauffer v Finanzamt Munchen fur Korperschaften

Tax law – Corporation tax – Tax exemption for charitable foundations established under private law – Residence requirement.

December 15 2005

H A Solleveld v Staatssecretaris van Financiën and J E van den Hout-van Eijnsbergen v Staatssecretaris van Financiën

Sixth VAT Directive – Article 13A(1)(c) – Exempt activities – Provision of care in the exercise of the paramedical professions recognised by the member state concerned – Services provided by a physiotherapist which do not fall within the definition of that profession – Services provided by a psychotherapist who is recognised as such only under the national legislation governing that profession but not under the VAT provisions.

December 15 2005

Chiltern hires John O'Donnell

UK tax consultancy, Chiltern, has appointed John O'Donnell to the position of Director, Indirect Tax Investigations. The role will see him conducting investigation work undertaken by HMRC in respect of VAT, excise and customs duties, both in civil and criminal matters. He will also advise on the Proceeds of the Crime Act, specifically focusing on confiscation issues.

December 14 2005

Indian government grants tax relief to airlines

The Indian government has extended the withholding tax exemption until March 31 2006, after Indian airlines made a representation stating that this would make leasing of aircraft from foreign companies more economical. The Extension will reduce the cost of leasing aircraft and engines from foreign lessors by up to 40%.

December 14 2005

UK tax authorities change working tax credits system

From November 7, HM revenue & Customs began phasing out the payment of working tax credits by employers. New claimants will receive the credits directly into their bank accounts and existing claimants will be transferred to this system by April 2006.

December 14 2005

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