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  • UAE ratifies five tax treaties
    The United Arab Emirates (UAE) has ratified five tax treaties, taking the country's tax treaty network to a total of 43. The new tax treaties are with Austria, New Zealand, Mozambique, Sri Lanka and Korea.
    June 20 2004
  • Irish update: Interest payments to US companies and LLCs
    Although Irish tax law imposes an obligation on companies generally, and on others who pay interest to persons whose usual place of abode is outside Ireland, to withhold tax from certain payments of interest, there are extensive carve-outs from this withholding obligation in the case of outbound interest payments
    June 19 2004
  • Brazilian update: Collection of social contributions on imports
    The Brazilian government issued on January 29 2004, Provisional Measure (PM) 164/2004
    June 19 2004
  • Korea clarifies international tax laws
    The National Tax Service of Korea (NTS) on June 15 2004 issued rulings on The Law for the Coordination of International Tax Affairs
    June 19 2004
  • Dutch tax inspectors to force the pace of disclosure
    Companies with operations in the Netherlands could be forced to hand over all information that tax inspectors consider potentially relevant to the collection of taxes
    June 19 2004
  • Iceland to cut company taxes
    The prime minister of Iceland, David Oddsson, last Monday, on June 14 2004, called for a cut in the country's corporate tax rate from 18% to 15%. Speaking at an event hosted by the American Enterprise Institute in Washington, DC, Oddsson said the cut would further increase Iceland's economic competitiveness.
    June 19 2004
  • Mexican update: Tax treaties under negotiation
    Mexico is now in negotiations with several countries to sign tax treaties
    June 19 2004
  • UK defends EU tax position
    European leaders on June 18 2004 finalized a new constitution with the UK holding firm to its veto on tax matters, one of the so-called red line issues for UK prime minister Tony Blair. The EU's 25 member states need to ratify the constitution within two years.
    June 19 2004
  • Romania plans large corporate tax cut
    The government of Romania plans to reduce the country's corporate tax rate from 25% to 19% in 2005 according to a June 15 2004 announcement by finance minister Mihai Tanasescu. Parliament is expected to approve the cuts in September and they would then be effective from January 1 2005.
    June 19 2004
  • US House of Representatives passes international tax overhaul
    In a vote of 251 to 178 the House of Representatives passed the American Jobs Creation Act (AJC bill) last Thursday, June 17 2004, after months of intense lobbying and deal making
    June 19 2004
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