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  • A group of Mexican lawyers have set up their own independent tax boutique
  • Wilhelm Haarmann, a founding partner of German law firm Haarmann Hemmelrath, has decided to leave the firm after internal disagreements about its future direction
  • Jill Weise, a former New England transfer pricing leader and firm director at Deloitte in Boston, has left the firm to join CRA International
  • The Forum of Private Business in the UK and HMV, a music retailer, have clashed over why the UK music retailer is setting up an e-commerce operation in the Channel Islands
  • Officials at the US Internal Revenue Service (IRS) last week announced the launch of a study to assess the reporting compliance of S corporations
  • New rules confirmed on July 15 abolish capital gains tax in Finland for foreign silent partners in equity funds
  • The latest quarterly figures from McDonald's, the global fast food chain, show a 10% fall in net income from $590 million in the second quarter of 2004 to $530 million for the same period in 2005. The company blames the drop on the tax costs associated with the repatriation of foreign earnings, which has cost the company $3.2 billion. However the tax costs have been offset by a rise in US earnings of 7% from the previous quarter following the addition of new menu items.
  • The UK Court of Appeal on July 18 dashed the hopes of retailers, after it overturned a previous court decision in a long-running value-added tax (VAT) dispute between Debenhams, a UK retailer, and HM Revenue & Customs (HMRC)
  • The streamlined sales tax project (SSTP) in the US will come into effect on October 1, after a meeting between state governments on July 1 in Chicago confirmed the project's thresholds will be met
  • The Chinese State Administration of Taxation issued a letter on June 23 2005 to supplement the existing notice on income tax examination and approval procedures from in-bound technology transfers for foreign enterprises. The existing notice had been introduced on July 1 2004 and the circular makes it explicit that the approval procedures that came into effect on this date cannot be applied to transactions completed beforehand.