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  • EU targets Germany’s exit tax regime
    Germany could face proceedings in the European Court of Justice (ECJ) if it fails to respond to a European Commission (EC) demand to end its exit tax on unrealized capital gains of persons who leave the country
    April 24 2004
  • Russia increases oil companies’ tax burden
    The country's lower house of parliament on April 23 2004 approved a package of amendments to the country's tax code that increases taxes on oil exports and oil production. The Bill, part of the government's tax reform efforts planned for this year and next, would increase oil export duties from August 1 2004 and implement a new unified mineral extraction tax from January 1 2005.
    April 24 2004
  • Czech VAT law scrapes through with injured minister’s vote
    A parliamentary vote on the Czech Republic’s controversial value added tax (VAT) bill went ahead on April 22 2004 despite one of the key proponents of the bill being involved in a car crash
    April 24 2004
  • UK managers complain about increasing tax burden
    A survey of business confidence among middle market companies in the UK has found real concerns within the sector over taxation and the administrative burden
    April 24 2004
  • US inbound update: New rules give greater flexibility after a tax-free stock acquisition
    It is common in the US to acquire companies in tax-free stock acquisitions
    April 24 2004
  • Argentinian update: Capital gains on the sale of unlisted shares
    Historically, Argentine-resident individuals have not been subject to domestic income tax on capital gains derived from the sale of shares, while foreign beneficiaries have been exempt under the provisions of Decree 2284 of 1991
    April 24 2004
  • US, UK, Australia and Canada set up tax taskforce
    The governments of the world's four largest English-speaking countries have agreed to cooperate in cracking down on company tax evasion. The US, the UK, Canada and Australia will form a taskforce based in New York to pursue and prosecute businesses suspected of cheating on taxes.
    April 24 2004
  • Saudi Arabia approves corporate tax cut
    The Saudi Arabian cabinet on April 23 2004 approved in principle the Saudi Arabian Income Tax Law of 2004 that would reduce the rate of corporate income tax for large foreign investors from 30% to 20%. The law will take effect when it is published in the Saudi Gazette.
    April 24 2004
  • UK Finance Bill dismays corporate taxpayers
    Tax specialists and corporate taxpayers have reacted with dismay to the unclear measures to introduce intra-UK transfer pricing regulations and a crackdown on tax avoidance schemes in the UK Finance Bill
    April 17 2004
  • Irish update: What the new Finance Bill will mean
    The increasing complexity and range of tax rules affecting international business require sophisticated and dynamic tax infrastructures in order to deliver global tax objectives
    April 17 2004
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