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  • The US Treasury's former deputy international tax counsel has moved to private practice after a two-and-a-half-year stint in government.
  • 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 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.
  • Corporates can expect some far-reaching changes in the tax arena in Spain. Among the initiatives recently announced, which will be embodied in legislative changes in the short term, reference may be made to the approval by the Council of Ministers on February 25 2005 of the first package of measures of the Plan for the Dynamization of the Economy.
  • There has been significant change in Polish legislation on special economic zones (SEZs) that substantially increase their attractiveness to multinational investors.
  • The tax features of securitizing assets through Ireland give the country many advantages in establishing a worldwide reputation for this type of transaction, argue Enda Faughnan and Harry Gleeson of PricewaterhouseCoopers
  • The Irish government and revenue authorities continue to refine the tax regime for finance vehicles. The changes can only help to boost the appeal of the structures, believe Fintan Clancy, Caroline Devlin and Conor Hurley of Arthur Cox
  • John Ryan and Catherine Galvin of Matheson Ormsby Prentice provide an overview of the regime, discuss the types of new business that has been attracted to Ireland and outline some of the issues that have arisen since its inauguration in 2003
  • A new regime for common contractual funds is on the way in 2005. The tax and legal changes are expected to be in place by April, according to Deirdre Power of Deloitte