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  • 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
  • Japanese update: Diet's US treaty ratification to bring new benefits
    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
    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
  • 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
  • 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
  • Singapore gives tax breaks for accounting and law firms
    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
    April 17 2004
  • OECD warns US over tax policy
    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.
    April 17 2004
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