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  • Dezzani starts new tax practice in Milan
    Former Zini & Associates tax partner Luca Dezzani has left the firm, taking four members of the tax team with him
    February 01 2004
  • Australian update: Expatriate deal signed with the UK
    The Australian and UK governments signed a new Double Tax Agreement on 21 August 2003, replacing the existing agreement
    February 01 2004
  • Corporate tax reforms become effective
    Abroad 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. The new Italian corporate income tax (IRES) will be effective from the first fiscal year beginning on or after January 1 2004.
    February 01 2004
  • Shell accused of abusive tax planning
    The government of Nigeria has accused the multinational oil company Shell of unfairly exploiting tax loopholes. The tax row centres on a reserves addition bonus scheme that offered companies generous incentives for investing in oil and gas. The alleged tax liability could be as much as $333 million.
    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
  • KPMG reports revenue growth
    Big four accounting firm KPMG on January 19 reported double-digit revenue growth for the fiscal year to September 30 2003. Despite a challenging year for the tax and accounting services profession, member firm revenues were $12.16 billion.
    February 01 2004
  • Three Rivers boosts Inland Revenue powers to investigate
    Mark Kingstone and Katie Price of Linklaters explain the precautions taxpayers need to take over privilege after the Three Rivers judgment
    February 01 2004
  • diagram1-italy-feb04.gif
    How Italy's new thin-capitalization rules work
    Giuliana Polacco of Baker & McKenzie explains when the new rules will apply and how to escape them
    February 01 2004
  • Korea offers project finance tax incentives
    The government of Korea unveiled plans to use tax incentives to encourage project finance activity on January 14 2004. The Korean Ministry of Finance announced the benefits after the National Assembly passed a revision Bill on the nation's Corporate Income Tax Law (CITL).
    February 01 2004
  • Saudi Arabia cuts company tax rate by one-third
    The government of the Kingdom of Saudi Arabia has approved a new income tax bill which cuts the corporate tax rate on foreign investors from 30% to 20%. The move is designed to generate badly-need investment into the country and follows a similar rate cut from 45% to 30% at the beginning of 2000.
    February 01 2004
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