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  • 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 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.
  • Sixth VAT Directive – Articles 2(1), 5(1) and 27(1) and (5) – Scope – Chargeable event – Supply of goods for consideration – Theft from a tax warehouse of goods subject to excise duty – Derogating national measure.
  • The US Internal Revenue Service (IRS) and the Treasury Department on May 18 issued revisions to the standards for written tax advice that were released at the end of last year
  • David Della Rocca, a tax and employee benefits partner, has joined the Washington, DC office of Latham & Watkins. Della Rocca, formerly of Wilson Sonsini Goodrich & Rosati, specializes tax and employee benefits in the context of M&A transactions.
  • 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
  • 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
  • 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
  • NERA Economic Consulting, an international firm offering transfer pricing services, has hired Stuart Harshbarger in its Chicago office. Harshbarger, formerly at PricewaterhouseCoopers, specializes in advice on transfer pricing, intangible assets and management fee studies for multinational companies.