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  • Tax advisers in Australia that are not lawyers contend with an unequal situation regarding privilege. Change in New Zealand only highlight the point, argue Craig Jackson, Fiona Rankin and Glenn Williams of Ernst & Young
  • The fashion among new EU members for a single flat rate for all major taxes gained momentum after Poland's Finance Ministry proposed a flat 18% rate for corporate tax, value-added tax (VAT) and individual income tax.
  • Companies in Europe will be able to recover value-added tax (VAT) on input expenses on share issues if the European Court of Justice (ECJ) affirms an advocate general opinion rejecting most European tax authorities' position on the issue.
  • Mukesh Bhutani: victory bodes well for similar cases Samsung, a Korean electronics company, has won a victory before a Bangalore tax tribunal on the tax implications of shrink-wrap software imports.
  • The European Commission on March 16 2005 said that Italian tax incentives that reduce the corporate tax rates of companies listed for the first time on a regulated EU stock exchange violate state aid rules. The disallowed incentive allowed companies that met certain conditions to receive a reduced 20% corporate tax rate (instead of the ordinary 33%) for the fiscal year in which the listing occurs, and the following two fiscal years.
  • A reduction in the corporate tax rate for domestic companies grabbed the headlines after India's Budget was released on February 28 2005.
  • The Indian tax authorities have ordered about 90 foreign companies, including banks, diamond companies and pharmaceutical companies to pay more tax, according to the Economic Times. The authorities believe the companies have not paid their fair share in accordance with the country's transfer pricing rules.
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  • Gerhard Schroeder, the German Chancellor, has proposed tax reforms that would cut the rate of corporate income tax from 25% to 19%. It was unclear, however, exactly how much tax relief companies operating in Germany would get because Schroeder said the move must be balanced by closing loopholes and cutting down on tax avoidance.