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  • The second round of repatriation guidance from the IRS helps multinational taxpayers to work-out how they should apply the section 965 incentive in the American Jobs Creation Act, according to Ernst & Young
  • HM Revenue & Customs (HMRC), the UK tax authority, said that the country's tax avoidance measures, first announced in the Budget of March 2004, are working.
  • The US Internal Revenue Service (IRS) and the Treasury Department issued revisions on May 18 to the standards for written tax advice that were released at the end of last year.
  • On March 1 2005 the legislation relating to reportable arrangements became effective. Under this legislation parties to transactions that have the potential for tax avoidance are obliged to make disclosure of the details, including a description of all the steps and key features, a list of the parties involved, copies of the signed documents and financial models, to the South African Revenue Service (the SARS).
  • Barbara Mace, formerly a partner and head of the US financial services transfer pricing practice at Deloitte, has moved to big-four rival Ernst & Young. Mace joined Ernst & Young's New York office on May 3 and will head the firm's financial service office's transfer pricing practice.
  • Sed Crest discovers who rules the tax roost in Europe and how tax directors are reacting
  • Gordon Brown: Will continue corporate tax consultation Gordon Brown, the UK Chancellor of the Exchequer, has assured business leaders that his government shares their objective of making the UK's tax regime internationally competitive.
  • Néstor Kirchner, the Argentine president, introduced draft legislation on May 18 to accelerate value-added tax (VAT) refunds to the energy sector to encourage the exploration of the nation's hydrocarbons reserves. The bill will speed reimbursement of VAT and income taxes, exempt import duties on capital assets and offer a lower income tax rate.