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  • Directive 76/308/EEC – Mutual assistance for the recovery of customs duties – Application to claims which arose prior to entry into force of the directive.
  • Romanian Finance Minister Mihai Tanasescu has announced the Public Finance Ministry’s tax amendment plans up until 2006, which include lowering corporate income tax and VAT rates
  • The government delivered an early Christmas present for business when it delivered on some of their concerns by renovating the new tax consolidation regime to tailor it more closely to their needs
  • The UK Inland Revenue launched a surprise attack on relief for trading losses through partnerships last week
  • Proposed amendments to the Income Tax Act (Canada), released on October 31 2003, will have a significant impact on planning and structuring for the acquisition of businesses and properties in Canada
  • Liao Luming, the director of the Chinese finance ministry’s general office has outlined a new unified corporate tax law, which aims to treat domestic and foreign corporations on equal footing, effectively raising corporate income tax for foreign-invested enterprises
  • The government of Hong Kong on February 10 2004 announced an intention to introduce a modest sales tax when the economy improves. Frederick Ma, secretary for financial services and the treasury and finance secretary Henry Tang said more details will be provided in the Budget statement in March.
  • A report by the Federal Finance Office, an arm of the German Finance Ministry, revealed that the combined level of corporate taxes paid by German firms at the federal and regional level is around 40%. The figure arose despite Chancellor Gerhard Schroeder's efforts to cut the nation's tax burden.
  • On October 31 2003 the Brazilian government issued Provisional Measure 135/2003, which, among other things, altered the rules for the application of the social security financing (COFINS) tax
  • A broad reform of the Italian corporate tax system has been carried out by Legislative Decree 344 of December 12 2003, which amended Presidential Decree 917 of December 22 1986 (the Italian tax code or ITC) pursuant to Delegation Law 80 of April 7 2003