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  • Saudi Arabia has cut the corporate tax rate to encourage foreign investment that will create job opportunities for Saudi nationals. Tax practitioners also believe the move is linked to internationalizing the tax code in preparation for the kingdom's impending entry into the WTO.
  • By Rod Burton, managing director and co-founder of the European American Tax Institute
  • Irish tax law provides for two rates of corporation tax:
  • The Asia Pacific region offers dynamic opportunities and unique challenges for global businesses. Every business decision involves intricately entwined issues, not the least of which is its tax implications.
  • The deductibility of interest expense is likely the tax issue on which the Supreme Court of Canada (the SCC) has commented most extensively. In March of 2004, the SCC added the Gifford decision to this line of case law, confirming that interest expense is generally (although not necessarily) on account of capital.
  • In recent years, eliminating abusive tax schemes has risen to the top of the agenda for revenue authorities, both locally and internationally. Until now individual tax administrations have worked within their own borders to combat revenue evaders but with many tax minimization schemes operating offshore and electronically it is increasingly difficult to track offenders.
  • The Argentine executive issued Decree No 916/2004 on July 23 2004, which provides clarification and new regulations to the provisions of last year's income tax reform introduced by Law 25.784.
  • The new limitation-on-benefits article is the chief feature of the newly-amended US/Barbados tax treaty, according to Margie Rollinson, Michael Mundaca, Lilo Hester and David Benson of Ernst & Young
  • An income deposit security is a work-in-progress. But the tax benefits are already apparent, believe Richard Willoughby, Alexandra Kau, Gary Gartner and Corrado Cardarelli of Torys
  • A reform in France's 2004 Finance Bill means that French companies need to think carefully about how they distribute their earnings, warns Stéphane Chaouat, of Weil, Gotshal & Manges