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  • Toronto
  • Fabio De Angelis has moved to Altria as senior European tax counsel, where he will be responsible for Eastern Europe, the Middle East and Africa and the company's duty free business worldwide. For the last five years he has been international tax counsel for Nestle. De Angelis is the current president of the European chapter of the Tax Executives' Institute.
  • The main issue in dispute between the taxpayer company, a life assurance company, and the Inland Revenue, was how double tax relief is calculated where the receipt that has been subject to overseas tax is included in trading profits taxed on schedule D-case I principles.
  • The minister of finance delivered his Budget speech to Parliament on February 23 2005. The Budget was reasonably expansionary, with additional funds being spent on social welfare and infrastructure development.
  • The government released a new anti-fronting law for the UAE in late 2004. It is intended that this law will come into force in 2007 and, should it do so, it is likely to change how business is done in the UAE.