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  • De Brauw lures lawyers from Freshfields' Dutch tax team
    Dutch law firm De Brauw Blackstone Westbroek confirmed the hire of tax specialists Dick Hofland and Paul Sleurink on February 19 2004. Hofland, formerly at Freshfields Bruckhaus Deringer, specializes in international tax law with an emphasis on mergers and acquisitions and corporate tax planning. Sleurink joins the firm from Merrill Lynch in London and focuses on the tax aspects of structured finance and equity-linked products. The pair will be based in the Amsterdam office.
    March 01 2004
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    Deals of the year 2003
    The tax lawyers involved in the most innovative transactions of the last year comment on how they were put together
    March 01 2004
  • Real estate investment trusts planned
    In the pre-Budget speech in December 2003, UK real estate investment trusts (REITs) moved one step closer with an endorsement from the Chancellor, Gordon Brown, who confirmed that a consultation document on REITs would be issued with the Budget in March this year. Legislation to introduce UK REITs is unlikely, however, before 2005.
    March 01 2004
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    Changes to partnership losses hit UK film industry
    The UK Inland Revenue launched a surprise attack on relief for trading losses through partnerships last week. Although the February 10 announcement did not specifically mention the film industry, which the government has repeatedly pledged to support with tax incentives, funding for many UK films was jeopardized.
    March 01 2004
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    New filing rules allow the use of functional currencies
    Singapore has changed its requirements for filing income tax returns and financial statements. Chan Huang Chay and Carol Go of Deloitte & Touche explain how the changes affect taxpayers
    March 01 2004
  • Cayman Islands commits to EU tax rules
    The Cayman Islands assembly has voted to commit to the EU Savings Tax Directive after pressure from Gordon Brown, the UK Chancellor. Brown repeated his promise to force the UK Crown dependency to adhere to the directive at the EU Council of Economic and Finance Ministers meeting on February 10 2004.
    March 01 2004
  • Sarbanes Oxley drives transfer pricing moves
    Strong demand for transfer pricing services post-Sarbanes-Oxley legislation in the US continues to stir the delivery of such services, with another transfer pricing boutique springing up.
    March 01 2004
  • A&O increases tax presence in Italy
    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.
    March 01 2004
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    Appeal Court backs the taxman
    The recent Arrowtown decision has put the onus on taxpayers to have sound commercial reasons for each step of their stampable transactions in Hong Kong. Otherwise, they could be challenged, warns William Thomson of White & Case
    March 01 2004
  • China plans to increase foreign corporate income tax
    The Chinese finance ministry has outlined a new unified corporate tax law, which aims to treat domestic and foreign corporations on an equal footing, effectively raising corporate income tax for foreign-invested enterprises.
    March 01 2004
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