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KPMG piloted the UK’s first fully electronic system for companies to approve and file their corporation tax returns over the internet in late March 2004

Oliver Bartholet, the head of tax for UBS, the Swiss bank, has identified transfer pricing arrangements as the chief area of risk for tax directors and says that their enforcement and documentation will be one of the main tasks for the bank’s tax function in the next 12 months

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.

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.

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.

Current Member States Standard VAT rates Accession member states Standard VAT rates Austria 20% Cyprus 15% Austria (Jungholz/Mittelberg) 16% Estonia 18% Belgium 21% Hungary 25% Denmark 25% Latvia 18% Finland 22% Lithuania 18% France 19.6% Malta 15% Germany 16% Poland 22% Greece 18% Slovakia 19% (1) Ireland 21% Slovenia 20% Italy 20% Czech Republic 22% Luxembourg 15% Netherlands 19% Portugal 19% Spain 16% Sweden 25% United Kingdom 17.5% (1) Rate applicable as from 1st January 2004 (replaces the current rate of 20 %)

Country facts Area: 311,904 km2

Country facts Area: 20 253 km2

Country facts Area: 65,200 km2

Country facts Area: 64,500 km2