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  • EU Savings Tax Directive takes effect
    The EU's long-awaited Savings Tax Directive and the separate savings tax agreements with five other European countries, designed to combat tax fraud and increase cooperation on tax matters between EU countries, came into effect on July 1.
    June 30 2005
  • Supreme Court stalls unpopular Filipino tax law
    On July 1 the Philippines Supreme Court announced a temporary freeze on the implementation of the expanded law on value-added tax. The controversial law had caused a rise in fuel prices, which led to petroleum retailers and the airline industry lobbying officials in Manila. The court took note of these efforts, voting 13-2 in favour of a temporary freeze. Hearings on the tax law, which was at the core of President Gloria Macapagal Arroyo's strategy for fiscal stability, will begin on July 26.
    June 30 2005
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    DLA Piper hires Congressman Gephardt
    Congressman Gephardt: time for new challenges DLA Piper Rudnick Gray Cary has announced the appointment of former Congressman Richard Gephardt in the firm's Washington, DC office.
    June 30 2005
  • Payment for purchase of readymade software is not royalty
    The Bangalore Tribunal in the case of Samsung Electronics Company Ltd. vs ITO (2005 93 TTJ 658), held that the payment for purchase of off-the-shelf computer programs for its business use from foreign suppliers, is not royalty taxable in India.
    June 30 2005
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    Circular confirms profit repatriation rules
    Belgium's tax authorities have issued guidance on how they shall interpret the country's tax treaty with Hong Kong. The guidance discusses Hong Kong profit repatriation to Belgium, explain Kurt De Haen and Guy Ellis of PricewaterhouseCoopers
    June 30 2005
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    Tax community celebrates innovation
    In May leading international tax practitioners from around Europe gathered in London for the presentation of the first International Tax Review European Tax Awards. Our cameras were there
    June 30 2005
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    Royal Dutch Shell merger hits tax snag
    Shell in Brazil UK shareholders face a £77 million ($135 million) tax bill following the restructuring of Shell Transport and Trading and Royal Dutch Petroleum to create a single company, Royal Dutch Shell.
    June 30 2005
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    Barcelona hosts global transfer pricing forum
    International Tax Review's 2005 Global Transfer Pricing Forum, in association with Baker & McKenzie, is being held on September 29 & 30 at the Hotel Arts in Barcelona. The event, in its fifth year, aims to build on previous successful editions in Berlin, New York, Amsterdam and Paris.
    June 30 2005
  • US tax directors give verdict on repatriation
    Corporate tax directors in the US are weighing up the possibilities for repatriating foreign earnings after the Internal Revenue Service (IRS) issued its latest round of guidance on a Jobs Act 2004 provision that allows companies to bring funds back to the US at a reduced rate of tax.
    June 30 2005
  • UK government unveils tax plans for EU presidency
    The UK government has disclosed its agenda on tax issues for its six-month EU presidency, which began on July 1. It will advocate movement on value-added tax dossiers and the code of conduct on business taxation. The newly implemented savings tax directive could be subject to adjustments and there will be efforts to halt European Court of Justice rulings becoming law in the member states.
    June 30 2005
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