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  • rasinaho-mugshot-colour.jpg
    Finland reforms tax regime for foreign silent partners
    New rules confirmed on July 15 abolish capital gains tax in Finland for foreign silent partners in equity funds
    July 31 2005
  • Repatriation costs McDonald's
    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.
    July 31 2005
  • Chinese authorities issue new circular on business tax exemption
    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.
    July 24 2005
  • PCAOB in tax shelter vote
    The body that oversees the work of auditors of public companies in the US will vote on July 26 on proposed rules that would ban an accounting firm from supplying tax shelter advice to its audit clients
    July 24 2005
  • Commission v United Kingdom and Northern Ireland
    Failure of a member state to fulfil obligations – Directive 77/799/EEC – Mutual assistance by the competent authorities – Fields of VAT and excise duties – Partial transposition– Territory of Gibraltar.
    July 20 2005
  • Vodafone hires interim tax director
    Malcolm Burke, a tax partner at Ernst & Young in London, will move to Vodafone as interim group tax director on August 10. Robbie Barr, the telecom company's group financial controller, said the hire was made after Lynne Patmore, Vodafone's group tax director, decided to leave company.
    July 17 2005
  • Hong Kong and China to begin tax treaty talks
    Hong Kong and China are to start income tax treaty negotiations on September 5, Frederick Ma Si-hang, Hong Kong's secretary for financial services and the Treasury, said on July 14.
    July 17 2005
  • charlesstaveleyx.jpg
    COLT Telecom hires tax head from Novar
    COLT Telecom Group has hired Charles Staveley, former tax head at Novar, the secure printing and industrial group, as the company's new head of tax and treasury
    July 17 2005
  • Venezuela demands more tax from oil industry
    Two more international oil companies have been caught up in the Venezuelan government's campaign against alleged tax evasion in the industry
    July 17 2005
  • US corporate tax revenues soar
    The federal US tax authorities have increased the amount of corporate tax collected by more than 40%
    July 17 2005
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