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  • Pillsbury Winthrop welcomes returning tax partner
    US law firm Pillsbury Winthrop announced on April 2 2004 that Timothy Burns, who joined the firm in 1989 and became a partner in 1997, has rejoined the tax practice after a year with Lombard Investments. Burns' practice focuses on tax, partnership and private equity matters.
    April 03 2004
  • Poland adopts indirect tax laws to comply with EU
    After much debate in parliament Poland has finally adopted new value-added tax (VAT) and excise tax laws to comply with EU Directives ahead of the country's accession to the EU on May 1 2004. But many multinational companies feel they have not been given enough time to comply with the new rules.
    April 03 2004
  • EU rejects Gibraltar’s tax proposals
    The European Commission (EC) rejected Gibraltar's proposals for company tax reform on March 30 2004. The proposals would have replaced Gibraltar's 35% corporate tax rate with a payroll tax and a business property occupation tax that together could not exceed 15 % of company profits. But the EC ruled that the proposals would contravene EU state aid rules. The Gibraltarian government has pledged to challenge the decision.
    April 03 2004
  • US Senate approves tax treaty with Sri Lanka
    The US-Sri Lanka tax treaty approved by the US Senate on March 25 2004 contains provisions to address tax barriers to trade and investment between the two countries. It also contains administrative provisions, including rules for resolving disputes and for exchanging tax information.
    April 03 2004
  • Germany clarifies limited liability company tax status
    The German tax authorities released guidelines on March 29 2004 clearing up long-standing confusion over the classification of limited liability companies (LLCs) for tax purposes as either a partnership or a corporation
    April 03 2004
  • Chairman Thomas blames corporate lobby over tax Bill delay
    US House Ways and Means Committee chairman, Bill Thomas, has blamed lobbying from Microsoft, Boeing and Caterpillar for delaying progress on his Bill designed to replace the export tax credits legislation averting $4 billion in WTO sanctions
    April 03 2004
  • New Zealand tax change to lure R&D investment
    Overseas investment in New Zealand’s burgeoning biotech sector could be boosted by a tax change aimed at helping the country compete with Australia for venture capital
    April 03 2004
  • Mexican update: Decree introduces maquiladora holding companies
    On October 13 2003 President Fox issued a decree (the New Decree) that reformed the previous Decree for the Promotion and Operation of the Maquiladora Export Industry (the Decree) issued in 1998
    April 03 2004
  • US Treasury forces the pace on tax-adviser standards
    The tax shelter opinion standards that the US Treasury and the IRS first proposed at the end of 2003 in proposed changes to Circular 230 will be finalized soon, according to a Treasury official. There have been concerns that ordinary tax planning would trigger the rules. But Eric Solomon, Treasury deputy assistant secretary (regulatory affairs) said the comments on the proposals submitted by tax advisers would be incorporated in the new regulations.
    April 03 2004
  • Global corporate tax rates fall
    A survey by KPMG has found that global corporate tax rates continued to fall in most parts of the world. The 2004 survey found that the average rate for the members of the thirty OECD nations (Organisation for Economic Cooperation and Development) fell from 30.68% in 2003 to 29.96% in 2004.
    April 03 2004
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