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  • Hong Kong considers tax treaty network
    The government of Hong Kong has said it intends to set up a network of double-taxation avoidance agreements with its major trading partners
    February 08 2004
  • Czech republic to cut VAT rate in time for EU accession
    The Czech Republic's coalition government on has agreed to cut the top VAT rate from 22% to 19% percent beginning May 1, the day the country is scheduled to join the EU. The bottom rate of VAT will remain at 5%.
    February 08 2004
  • US releases 2005 fiscal budget plans
    President George Bush released his budget proposals for 2005 on February 2 2004. The proposals include suggestions to replace the Extraterritorial Income Exclusion Act, reform corporate tax law to benefit US-based companies and crack down on abusive tax transactions.
    February 08 2004
  • Japanese update: New year tax reforms revealed
    The Ministry of Finance announced the tax reform plan for 2004 on December 19 2003
    February 08 2004
  • PwC appoints new head of tax investigations in the UK
    PricewaterhouseCoopers announced the appointment of Stephen Camm as head of its UK tax investigations practice on January 28 2004
    February 01 2004
  • New form for US corporate tax returns
    In an effort to increase the transparency of corporate tax return filings, the US Treasury and IRS on January 28 2004 released a new proposed draft form for use by certain corporate taxpayers. The new form affects corporations with total assets of $10 million or more and will help the IRS improve monitoring of corporate tax compliance.
    February 01 2004
  • China sets tax rebate timetable
    The government of the People's Republic of China has decided on a timetable for payment of overdue export tax rebates and will pay the amounts owed by the end of May. The rebate mechanism was introduced in the mid-1980s, but growth in China's export sector outpaced the government's ability to pay the tax refunds.
    February 01 2004
  • UK Inland Revenue closes tax loophole
    The UK Inland Revenue has announced measures to crack down on a scheme to avoid income tax used by individuals that involves setting off strips of government bonds against other income. Strips are securities that pay the owner either the interest due on an individual bond or the principal due when a bond is redeemed. The new legislation was effective immediately when it was released on January 15 2004.
    February 01 2004
  • KLegal to re-brand as McGrigors
    KLegal's UK operation will re-brand itself as McGrigors on February 1 2004. The move comes after accounting parent KPMG cut its links with KLegal in response to US regulatory restrictions on the provision of non-audit services to audit clients.
    February 01 2004
  • miller-feb04.jpg
    IRS tightens reins on tax advisers
    David Miller: New rules would mean more work for tax advisers The US Treasury Department and the IRS has issued guidance for tax advisers as part of their campaign against abusive tax avoidance transactions. The guidance provides a set of best practices to ensure that tax advisers adhere to the highest ethical standards and inform their clients of any potential risks in certain tax transactions.
    February 01 2004
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