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  • On April 1 a free trade agreement entered into effect between Mexico and Japan. The signing of this agreement has been well-publicized in Mexico as it is one of the first agreements of this nature signed by Japan with a developing country.
  • Ted Keen: Has yet to agree a departure date with KPMG Ballentine Barbera Group (BBG), the US-based transfer pricing boutique, is expanding into Europe with the hire of Ted Keen, KPMG's partner in charge of transfer pricing economics for Europe, the Middle East and Africa. Keen will make the switch after agreeing a departure date with KPMG.
  • By Jim Yager, KPMG in Canada
  • By Dave Peterson, KPMG in Switzerland
  • Sixth VAT Directive – Article 13A(1)(g) and (h) – Exempt transactions – Supplies closely linked to welfare and social security work – Supplies closely linked to the protection of children and young persons – Supplies made by bodies other than those governed by public law and recognised as charitable by the member state concerned – Private, profit-making entity – Meaning of ‘charitable’.
  • The US Internal Revenue Service and the Department of the Treasury have released a second round of guidance on repatriation of foreign earnings under Internal Revenue Code section 965, part of the American Jobs Creation Act of 2004. The guidance provides direction on the effect of mergers, acquisitions and reorganizations in calculating the amount of dividends eligible for an 85% dividends received deduction on cash distributions from controlled foreign corporations.
  • Edmund Cohen, former head of Coudert Brothers' global tax practice, has left the firm for Winston & Strawn (W&S). He joined W&S' New York office last Monday, May 9.
  • Daniel Chan, formerly of Baker & McKenzie's Hong Kong tax practice, has joined DLA Piper Rudnick Gray Cary as head of tax for Asia. Chan specializes in the tax aspects of inbound investment into China. His practice covers corporate tax planning, tax incentives, M&A and indirect taxes.
  • By Rodney Moore, KPMG in Australia