Search results for

George W Bush: Wants to reform the US tax code President Bush signed an executive order on January 7 2005 to set up his Advisory Panel on Federal Tax Reform that will provide advice on ways to amend the US tax code including ways to encourage savings and investment.

The UK Treasury's pre-Budget report pointed towards changes to the tax regime. However, a general election could get in the way of any new initiatives, according to Gary Richards of Berwin Leighton Paisner

Pursuant to Council Directive 2003/48/EC of June 3 2003 each EU member state will be required to provide to the tax authorities of another member state details of payments of interest or other similar income paid by a person within its jurisdiction to an individual resident in that other member state.

The re-election of the coalition government has buoyed the business community with heightened expectation of further tax reforms, especially given its clear majority in the Senate from July 1 2005. High on the wish-list is completion of the current round of business tax reforms, and a government commitment to personal tax reform.

The government of India has released details of a key value-added tax (VAT) plan that will come into force on April 1 2005. P Chidambaram, the finance minister, said the tax reforms were the most important since India won its independence in 1947.

In December 2004 the German tax authorities issued a directive addressing a judgment rendered by Germany's highest tax court in January 2003. In this decision, the Federal Tax Court held that a foreign corporation having its registered office in the US and its principal place of management in Germany could qualify as the parent entity (first-tier entity) in a group of companies consolidated for corporation tax purposes, even though applicable law for the year in dispute required the corporation to have both its registered office and its principal place of management in Germany (double nexus requirement).

The tax authorities amended the country's transfer-pricing rules at the end of 2004. They will have to work hard to ensure taxpayers are treated equally throughout the country, believe Matthew Mui and Joanne Su of PricewaterhouseCoopers

PricewaterhouseCoopers' Chris Rolfe explains what the EU’s code of conduct will mean in practice for transfer pricing disputes

In case of Hindustani Powerplus (141 Taxman 658), the Authority for Advance Rulings (AAR) examined the issue of tax implications of allowances and benefits given to expatriates deputed to India

The Brazilian tax authorities issued on December 23 2004 the Interpretation Declaratory Act (ADI 27, which is an official interpretation from the Brazilian tax authorities), setting forth their understanding in connection with payments of dividends, royalties and service fees made under the Brazil-Spain Convention for the Avoidance of Double Taxation (the Tax Treaty)