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  • UK film goes under after tax change
    Filming on British production Tulip Fever has been cancelled because of an Inland Revenue clampdown on film partnerships. A press release issued on February 10 2004 said that partnership schemes (often used to fund UK films) manipulate tax relief to create claims for losses in excess of the capital at risk.
    February 29 2004
  • Tax controversy hits TPG results
    The Dutch postal and logistics group TPG had to delay the publication of its results on February 19 2004 because of a tax dispute involving a UK subsidiary. The dispute began in the late 1990s between a TPG-owned holding company and the UK Inland Revenue.
    February 29 2004
  • US Outbound update: Ending the extraterritorial-income-tax regime
    It may be the beginning of the end for the 30-year battle over the extraterritorial-income-tax regime (ETI) and its predecessors
    February 29 2004
  • BDO Seidman cuts partners by 10%
    Second-tier, Chicago-based accounting firm BDO Seidman has announced a 10% reduction in partner numbers
    February 29 2004
  • Deloitte Russia picks up Mitsubishi’s tax specialist
    Ekaterina Emelianova, formerly with Mitsubishi, joined Deloitte & Touche in Moscow on January 5 2004. Emelianova focuses on tax planning and international tax in an increasingly competitive Russian tax services market.
    February 29 2004
  • IRS beefs up on technical staff
    The US IRS on February 27 2004 appointed Bert DuMars, an electronic commerce expert and veteran of the information technology industry, as director, electronic tax administration. DuMars joins Nicholas DeNovio that the IRS hired as deputy chief counsel (technical) in the office of chief counsel the day before.
    February 29 2004
  • Australian update: Tax consolidation: lost in transactions
    The new tax consolidation regime was to deliver simplicity and flexibility for business but a survey by PricewaterhouseCoopers Australia last year found that the environment for corporate transactions has become more, rather than less, complex
    February 29 2004
  • KPMG investigated over sale of tax shelters
    A federal grand jury in New York is investigating the big-four firm KPMG on the alleged sale of tax shelters. KPMG disclosed the inquiry on February 19 2004 and announced, through its lawyers, that it would cooperate fully with the investigation.
    February 29 2004
  • Bolkestein presses for unified EU corporate tax base
    EU taxation commissioner Frits Bolkestein has called for a handful of member states to press ahead with harmonizing their corporate tax base. The proposals are designed to increase fiscal transparency and to allow for easier comparison of company performance throughout the EU.
    February 29 2004
  • Australia targets offshore funds
    The Australian Taxation Office (ATO) has warned that it will hunt down Australians using havens such as Switzerland and the Channel Islands to avoid tax. The ATO said it has greater powers to detect offshore tax evasion using technology which monitors banking transactions to and from Australia.
    February 29 2004
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