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Whether a company which issues new shares, and becomes listed on a stock market for that purpose, is to be regarded as making a supply for consideration for VAT purposes; and whether, depending on the answer to that question, VAT paid on services acquired in connection with the listing and share issue may be deductible.

Value added tax – Reduced rate of tax – Importation of works of art, collectors' items and antiques – Public auction of goods subject to temporary importation arrangements – Auctioneer's margin.

March 16 is the date for the UK Budget, the government announced on February 23 2005.

Sixth VAT Directive – Exemptions – Supplies of services and goods directly related to welfare and social security and protection of children and young persons – Bodies recognised as being of a ‘social character’ – Private bodies run for profit – Interpretation of Article 13A(1)(g) and (h).

With effect from January 1 2005 the amendments to the Polish Tax Code became effective, including that the tax authority is obliged, upon written request of the taxpayer, to issue binding advance tax rulings. A taxpayer that receives a ruling cannot be charged with any outstanding tax liability, provided that he conducted his transactions consistently with the tax authorities' interpretation of the tax law included in the ruling. The previously existing system of rulings had not offered such opportunity; the "old" rulings protected taxpayers against penalties but not against payment of the tax liability as such.

The Internal Revenue Service (IRS) started the new year on a positive note by issuing proposed regulations that provide for the first time that a statutory merger under foreign law may qualify as an A reorganization.

Hans Eichel, Germany’s finance minister, has announced that the government wants reforms of the corporate tax system to be in place by 2007.

Two senior US government tax officials, Barbara Angus and Gregory Nickerson, have left public service to set up their own tax consultancy firm. Angus & Nickerson opened for business in Washington, DC on February 7 2005.

The EU’s council of finance ministers (ECOFIN) has made progress over differences of opinion on reform of the Stability and Growth Pact, which would reduce budgetary pressure on member states to either reduce spending or increase taxes.

Connie Mack, chairman of the US President’s Advisory Panel on Federal Tax Reform, asked last Wednesday for greater input from taxpayers on the debate on ways to amend the US tax code.