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Baker & McKenzie recruits more transfer pricing economists

Brigitte van Dijk-Hoogvliet and Daniël Lierens, both transfer pricing economists, joined Baker McKenzie's Amsterdam office on May 1 2004. The move follows the hire of two economists from big-four firms in the US in April. Baker & McKenzie is one of the few global law firms to hire economists to support its transfer pricing practice.

May 31 2004

Case questions Finnish credit system

Advocate General Kokott issued her non-binding opinion in the Manninen case (C-319/02) on March 18 2004 regarding the compatibility of the Finnish tax credit system with the EC Treaty. In Finland, economic double taxation of corporate profits is avoided by crediting corporate income tax paid by the company against the income tax payable by the individual on the dividend received. The credit is denied, however, if the company distributing the dividend is not a resident of Finland.

May 31 2004

New protocol to boost investment between US and the Netherlands

A 0% dividend withholding tax rate in some cases is one of the features of the new protocol between the US and the Netherlands, according to Wouter van Holthuijsen and Saskia Rienks of PricewaterhouseCoopers

May 31 2004

How the UK and Germany have treated ECJ rulings on article 43

EU member states should consider a common policy on tax rates and reliefs. It may help them deal with treaty issues raised by the European Court of Justice, argue Timothy Jarvis, Jens-Uwe Hinder and Dirk Koehler of Hammonds

May 31 2004

Senate tax bill puts House on the spot

The US Senate's JOBS Act repeals the FSC/ETI provisions and retains the international tax reforms from previous versions, reveal Margie Rollinson, David Benson and Michael Mundaca of Ernst & Young

May 31 2004

VAT row threatens Olympic Games coverage

Television coverage of the Olympic Games in Athens could be limited outside the EU if Greece refuses to refund value-added tax (VAT) paid by broadcasters. Greece has only guaranteed VAT refunds for television broadcasting companies with registered affiliates in the EU. The European Broadcasting Union said in a statement that Asian broadcasters would be hit hardest.

May 31 2004

PricewaterhouseCoopers appoints tax investigations chief

PricewaterhouseCoopers' northern UK practice appointed Ronnie Pannu as head of its tax investigations group on May 21 2004. Pannu succeeds Geoffrey Baldwin, who is retiring after 26 years at the big-four firm. Before joining the firm in 1995, Pannu served as an inspector of taxes at the Inland Revenue.

May 31 2004

Ernst & Young faces renewed scrutiny over tax schemes in the US

Ernst & Young's US business confirmed on May 24 2004 that federal prosecutors are again investigating its tax services. The investigation follows a $15 million civil settlement in 2003 between the big-four firm and the US Internal Revenue Service. The US attorney for the southern district of New York, the Manhattan branch of the Department of Justice, has a grand jury looking at allegations that Ernst & Young improperly sold tax products to clients.

May 31 2004

Decree implements tax-transparency regime

On April 23 2004 the Italian Ministry of Finance issued an ad hoc Decree implementing the necessary detailed rules to make the so-called transparency regime fully effective. Indeed, articles 115 and 116 of the Italian Tax Code (ITC) provide for an optional regime pursuant to which a resident corporation, under certain conditions, can be deemed as transparent like a partnership, for the purpose of the 33% corporate tax (the Transparent Corporation).

May 31 2004

Why European tax executives are under pressure

Sed Crest finds out why tax executives are under increasing pressure in the region, which firm they think has the best brand and whether law firms or professional services firms are winning more of the tax-services dollar

May 31 2004

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