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The new EU commissioner for taxation and customs union is sticking to European Commission orthodoxy on corporate tax

Draft legislation was recently released by the Canadian Department of Finance to implement many of the measures announced in the government's March 23 2004 Budget

The Greek government plans to introduce a wide-ranging corporate tax bill that will cut the rate of corporate tax from 35% to 25% by 2007

Banks with operations in New Zealand face higher tax burdens after the government introduced a bill on November 16 2004 to radically tighten the country’s thin-capitalization rules for the banking industry, which has been accused of paying too little tax

Abolishing the Internal Revenue Service and replacing taxes on income and investment with a flat national sales tax on consumption are some of the radical ideas gaining support in Washington, DC

Revenue Ruling 2004-83 holds that the sale of one subsidiary to another subsidiary followed by the liquidation of the purchased subsidiary as part of an integrated plan qualifies as a reorganization under Internal Revenue Code (IRC) section 368(a)(1)(D) and is not subject to IRC section 304, whether or not the subsidiaries are part of a consolidated group

The Ministry of National Economy is working on a new income tax law to replace the current legislation, originally issued in 1981

Application of Sixth VAT Directive as it applies to public bodies. Whether a body governed by public law has a right pursuant to Article 20 of the Directive to adjust the VAT paid in respect of the acquisition of a capital good, which it has used for activities in which it engages as a public authority, when it subsequently sells that good as a taxable person. Also, whether a body governed by public law has the right wholly to exclude from its capital assets a capital good used partly for activities engaged in as a taxable person and partly for activities engaged in as a public authority, as in the case of taxable natural persons.

Sixth VAT Directive – Article 13B(b) – Exempt transactions – Letting of immovable property – Licence to occupy.

Gordon Brown, the UK Chancellor of the Exchequer, hinted last week that his government might reduce business taxes in an effort to ensure the country maintains its international competitiveness