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  • 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.
  • Several EU member states have established attractive holding company regimes. Pat Cullen and Evelyn Forde of Deloitte consider a number of new measures in Ireland's new Finance Bill which will improve its atractiveness in this regard
  • Taxpayers must pay attention to proposals in new transfer pricing regulations, which give the IRS substantial discretion to override the method selected by a taxpayer, argue Ken Wood and David Canale of Ernst & Young
  • The Russian State Duma received the draft agreement creating the Unified Economic Territory (UET) on February 16 2004. It brings Russia, Ukraine, Kazakhstan and Belarus together into a free economic zone. Proposed unified customs rules and state regulation procedures would ensure the free circulation of goods, services, capital and labour.
  • UK magic-circle law firm Allen & Overy (A&O) has taken over a top Italian tax boutique to boost its European tax practice in Milan and Rome. Andrea Manganelli and Francesco Parisi, co-founders of Andrea Manganelli e Associati, joined A&O as partners and brought 15 tax associates with them. A&O also hired tax specialist Quirino Imbimbo as of counsel in the Milan office.
  • The government of Lithuania has amended the country's value-added tax (VAT) law to harmonize it with EU legislation. The law provides an expanded list of services for which a VAT service provider must calculate VAT. The new law will be effective from May 1 2004, the date that Lithuania joins the EU with nine other countries.
  • Bill Ramirez, director of PMI Asia/Pacific taxes, points out some differences between tax practice in Europe and Asia
  • Peter Rowe joined KPMG's international tax and finance group in London on February 9 2004. Rowe brings experience in structured finance and international tax from positions at Citigroup and UBS.
  • French law firm Hammonds Hausmann has hired a corporate tax lawyer from Ernst & Young in Paris. Philippe de Saint-Bauzel joined the firm as a partner and brings tax experience from both PricewaterhouseCoopers and KPMG. De Saint-Bauzel has experience in broad range of industry sectors, including healthcare, pharmaceutical, distribution, service industries and telecommunications, media and technology.
  • Mihaela Mitroi: Clients are pleased with