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  • Michael Carmody: specialists will help ATO More use of technical experts in the ruling process and greater involvement by taxpayers in risk reviews and audits are part of the overhaul of corporate audit procedures announced by Michael Carmody, the commissioner of the Australian Taxation Office (ATO) in October.
  • Commissioner Kovacs: wants a single EU corporate tax base by 2009 at the latest EU tax commissioner, Laszlo Kovacs, said that the European Commission aims to present legislation that would create a uniform corporate tax base by 2008 or 2009 pursuant to the Lisbon strategy to boost EU growth.
  • At a speech in Zurich on October 21, EU tax commissioner, Laszlo Kovacs, said that the European Commission plans to work with financial centres outside of the EU, such Hong Kong and Singapore, to encourage them to adopt measures contained in the Savings Directive.
  • The European Commission has announced a plan to propose a code of conduct for transfer pricing documentation by the end of 2005.
  • South Africa has comprehensive controlled-foreign-company (CFC) rules. An important exemption is the business-establishment exemption, whereby provided there is a real and substantial, qualifying business establishment suitably equipped and staffed by appropriate management and employees, essentially deriving active business profits, the profits will not be taxable in the South African resident shareholder's hands.
  • Transfer Pricing Associates and the Ballentine Barbera Group, both transfer-pricing-specialists with a rapidly-expanding international network, have opened offices in Australia.
  • A new tax called fringe benefit tax (FBT) has been introduced in India with effect from April 1 2005.
  • A new study has found that Russian taxpayers want the tax administration to develop a way of dealing with complaints without resorting to litigation.
  • Hal Hicks: Treasury's new international tax counsel Hal Hicks has been promoted to international tax counsel at the US Treasury Department. The appointment was one of three changes at the department in October. Michael Desmond becomes tax legislative counsel and Robert Dilworth joins the Treasury as senior adviser to the assistant secretary for tax policy.
  • The Chilean Internal Revenue Service, by Ruling 3055 of August 18 2005 repeated its previous opinion with regard to the availability of the use of the value-added tax (VAT) credit originating from the payment of premiums of life insurance and health insurance, contracted by the company in the benefit of its employees.