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European finance ministers move forward with growth pact reforms

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.

February 20 2005

US Inbound update: IRS proposes to include foreign mergers in A reorganizations

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.

February 20 2005

Finanzamt Gladbeck v Edith Linneweber and Finanzamt Herne-West v Savvas Akritidis

Sixth VAT Directive – Exemption for games of chance – Determination of the conditions and limitations to which the exemption is subject – Liability of games organised outside public casinos – Respect for the principle of fiscal neutrality – Article 13B( f) – Direct effect.

February 17 2005

Optigen Ltd and Fulcrum Electronics Ltd (in liquidation) and Bond House Systems Ltd v Commissioners of Customs & Excise

Sixth VAT Directive – Article 2(1), Article 4(1) and (2) – Economic activity – Transaction forming part of a chain of supply involving a defaulting trader or a trader using an unauthorised VAT number – Carousel fraud.

February 16 2005

Canadian update: Further relief for public company spin-offs

The "butterfly reorganization" is the name in Canada for the type of reorganization by which a Canadian corporation, call it the distributor, can distribute property to one or more of its corporate shareholders on a tax-deferred basis

February 14 2005

US and New Zealand regularize fiscally-transparent entity regime

Fiscally-transparent entities from either the US or New Zealand will receive tax treatment identical to that they would receive in their home country when earning income in the other, as a result of an agreement between the two countries that was announced on February 11 2005

February 14 2005

Dutch update: New rules on tax treatment of foreign entities

When dealing with the Netherlands, entities that are tax transparent in their home jurisdiction often find that they are regarded as taxable entities for Dutch tax purposes

February 14 2005

UK research groups win tax breaks

The UK government has unveiled a scheme to ensure that researchers that develop their own ideas do not have to pay income tax or national insurance when the value of their shares in a so-called “spin-out” company increases because of intellectual property transfers

February 14 2005

Germany presses for EU jet fuel tax

Hans Eichel, Germany's finance minister, will this week step-up pressure within the EU for a tax on airline fuel. Eichel was optimistic that many member states will back the move when he raises the issue at the meeting of EU finance ministers on Thursday, February 17 2005.

February 14 2005

Mexican update: Tax reform creates definition of business profits

The tax bill for 2005 was approved on November 13 2004 and published in the official gazette on December 1 2004

February 14 2005

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