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  • The Japanese Diet is expected to ratify the new treaty by the end of March 2004, allowing the treaty to become effective on January 1 2005 in general, except for the provisions relating to withholding tax on dividends, interest, and royalties, which will become effective on July 1 2004
  • The government of Argentina on April 9 2004 introduced plans for an anti-evasion tax package and a series of changes to the tax system designed to increase investment in the country. President Nestor Kirchner designed the package, which will be implemented over the next three years, to operate within guidelines established by the International Monetary Fund.
  • The Australian government has proposed its latest reforms of the country's international tax system with the introduction of the New International Tax Arrangements (Participation Exemption and Other Measures) Bill 2004 into parliament on April 1 2004
  • GlaxoSmithKline Holdings on April 2 2004 filed a petition in the US Tax Court contesting a multibillion-dollar transfer pricing claim
  • The government of Singapore has extended tax breaks to Singapore-based audit, accounting, and law firms to strengthen the country's position as an international hub for headquarters operations and to encourage professional service firms that are structured as partnerships to expand their operations
  • The Organization for Economic Cooperation and Development (OECD) has warned that President Bush's 2005 Budget does not sufficiently address the problem of the country's growing fiscal deficit. In its annual economic survey on April 14 2004 the OECD suggested the US should broaden the tax base by focusing on exemptions that reduce revenue and cause inefficiencies, such as tax shelters for specific industries.
  • The Indonesian Ministry of Finance appointed 29 new officials to the Directorate General of Taxation in a bid to improve the public image of the tax authority. The new officials consist mainly of new heads of tax offices in regional provinces.
  • The government of Turkey is drafting a new package of 10-year corporate tax breaks for foreign investors. Companies would have to invest €150 million ($179 million) or employ 1,500 people to benefit from the tax breaks, which are expected to take effect from January 1 2005.
  • The president of the Czech Republic, Vaclav Klaus, vetoed the country's proposed VAT bill on April 9 2004. The decision comes less than a month before the Czech Republic's entry into the EU on May 1 2004, by which time new members must have VAT systems that comply with EU law.
  • US Tax & Financial Services, an international tax boutique firm, announced the opening of two offices in Geneva and Zurich on April 15 2004. Darlene Hart, who specializes in international tax matters involving the UK and the US, is the firm's managing director.