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  • Ernst & Young loses international tax specialist
    Marc Halsema, formerly a senior manager of Ernst & Young's international tax services group, has joined Edwards & Angell. The firm announced Halsema's appointment to the New York office as an international tax partner on March 1 2004.
    March 07 2004
  • IRS increases interest rates for 2004
    The US Inland Revenue Service (IRS) announced on March 1 2004 that interest rates will rise by one percentage point on April 1 2004. Interest will be set at 5% for overpayments (4% for corporations), 5% for underpayments (7% for large corporate underpayments) and 2.5% for the portion of a corporate overpayment exceeding $10,000.
    March 07 2004
  • New tax counsel for Australian accounting body
    On 3 March 2004, the Institute of Chartered Accountants in Australia (ICAA) announced the appointment of Ali Noroozi to the role of Tax Counsel. Noroozi has over 10 years experience in Australian and international taxation from positions at Deloitte Touche Tohmatsu and Ernst & Young and within law practices including Minter Ellison and Linklaters.
    March 07 2004
  • Russia to recreate tax-saving economic zones
    The Russian government intends to create special technological and manufacturing economic zones with tax breaks to attract foreign and domestic industrial investment
    March 07 2004
  • KPMG appoints new leader in Europe
    The big-four accounting firm KPMG has continued the restructuring of its international tax practice with the appointment of a new head of tax for Europe, Middle East and Africa, its largest operating region
    March 07 2004
  • New European corporate structure fails to impress
    The formation of the new European corporate structure, the Societas Europaea (SE), will have few tax implications, according to panellists at a tax planning strategies conference in Zurich last week, as most of the impact is already contained in existing EU or member state legislation.
    March 07 2004
  • Japanese update: New year reforms bring investment incentives
    The tax reform plan for 2004 emphasizes on taxation for individuals as follows
    March 07 2004
  • Spanish update: Taxpayers gain from tweaks to the participation exemption
    Effective January 1 2004, a new wording of the participation exemption has entered into force, correcting a troublesome requirement
    March 07 2004
  • Mexico allows VAT rebate for foreign telecom companies
    Foreign telecommunications companies could get relief from VAT on international telecommunications services provided by a Mexican entity to a non-Mexican entity. After changes to the Mexican federal fiscal code, companies can request a VAT refund from the Mexican tax authorities for certain transactions.
    March 07 2004
  • English High Court turns down loss-relief hearing
    Fifty five multinationals have failed to have their class-action style claim heard by the English High Court. The companies are claiming compensation similar to the claim in the Marks & Spencer case last year to offset losses made in other European countries against the profits of UK companies.
    March 07 2004
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