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  • 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
  • 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
  • Electricite de France takes tax dispute to the ECJ
    The French energy company Electricite de France (EdF) will file a lawsuit with the European Court of Justice (ECJ) to resolve a tax dispute with the European Commission. The European Commission ruled on February 17 2004 that the French government had broken EU state aid rules in the form of tax breaks for EdF and ordered the company to repay €1.2 billion ($1.4 billion) in unpaid tax and interest.
    April 17 2004
  • Argentina unveils three-year tax plan
    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.
    April 17 2004
  • Glaxo challenges $2.7 billion transfer pricing claim
    GlaxoSmithKline Holdings on April 2 2004 filed a petition in the US Tax Court contesting a multibillion-dollar transfer pricing claim
    April 17 2004
  • Australia introduces third round of tax reform
    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
    April 17 2004
  • BT Group faces state aid complaint
    UK telecommunications company BT Group is facing a complaint by network provider Vtesse Networks that it received illegal state aid. The European Commission confirmed on April 15 2004 that it had received a complaint about allegedly unfair tax rebates on the property tax due for BT's telecommunications premises.
    April 17 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
  • Brazilian Senate reconsiders import taxes for automotive and pharmaceutical companies
    The Brazilian Senate is considering changes to the tax treatment of foreign imports to that could benefit companies in the automotive and pharmaceutical industries
    April 17 2004
  • Ireland hosts meeting of European tax heads
    Charlie McCreevy, Ireland's minister for finance, opened a meeting of the heads of the tax authorities for the 25 EU member states and accession states on April 14 2004. The conference, Influencing taxpayer behaviour to influence taxpayer compliance, focused on simplifying tax systems and tackling tax evasion.
    April 17 2004
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