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  • Los Angeles-based international investment bank, Houlihan Lokey Howard & Zukin, released its transfer pricing growth strategy today, after aggressively hiring transfer pricing professionals from the big-four professional services firms, particularly Ernst & Young
  • Edmund Cohen, former head of Coudert Brothers' global tax practice, has left the firm for Winston & Strawn (W&S)
  • The US Internal Revenue Service (IRS) has hired Janice Lambert as its new chief financial officer (CFO). Lambert moved to the IRS to become deputy CFO in June 2004 from the Department of the Treasury. In her new role she will oversee an organization responsible for the custodial accounting of $2 trillion in taxpayer receipts and the IRS' $10 billion annual operating budget.
  • A former tax director of PricewaterhouseCoopers in Dubai is to head the UAE office of the ILS Group, a provider of tax-efficient international corporate services
  • The US state of Mississippi has settled a tax case with MCI, formerly WorldCom, costing the company over $125 million
  • Kenneth Simon, former vice president of taxes at Avon Products, has moved to a similar position at Herbalife, a global network marketing company that sells nutritional supplement and personal care products
  • VAT – Sixth Directive – Article 9(1) and (2) – Slot gaming machines – Entertainment or similar activities – Supplier of services established outside the territory of the Community – Determination of the place where services are supplied.
  • VAT – Article 26 of the Sixth VAT Directive – Scheme applicable to travel agents and tour operators – In-house services and services purchased from third parties – Method of calculation of the taxable amount – Apportionment of package price between bought-in services and in-house services – Application of the market value method.
  • Sixth VAT Directive – Standard software – Customisation to meet the purchaser’s requirements – Supply of goods or supply of services.
  • Eric Solomon, US Treasury deputy assistant secretary (regulatory affairs) and acting deputy assistant secretary for tax policy, told tax practitioners on April 29 that eagerly-anticipated repatriation guidance would be released "very soon". Solomon told the Federal Tax Institute in Chicago that IRC section 965 guidance was his highest priority, but declined to name a precise date for its release.