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  • Australian law firm Corrs Chambers Westgarth has hired former KPMG tax partner Kevin Reilly. Reilly joins as a senior consultant with the firm and will focus on international and domestic tax planning.
  • Philip Stoffregen was appointed to the newly-created position of international tax leader for industrial business at KPMG on February 4 2004. Stoffregen will focus on providing tax services to global manufacturers and automotive industries from the firm's Detroit office.
  • A provision in Ireland's 2004 Finance Bill rewards companies who increase their R&D spending with a tax credit. The draft legislation, which was unveiled on February 4 2004, also exempts Irish resident companies from capital gains taxes on their disposed-of shareholdings in subsidiaries, whether they are foreign or domestic. There is also an exemption from stamp duty for transfers of intellectual property.
  • The OECD has reached a compromise with Switzerland over tax practices deemed harmful by the organization in meetings held in Paris on January 27 and 28 2004
  • More than a dozen Bills aiming to reform Germany’s labour market, public health insurance system, and tax laws were enacted in December 2003
  • On December 22 2003 the European Council formally adopted a Directive amending the Parent-Subsidiary Directive
  • The government of Hong Kong has said it intends to set up a network of double-taxation avoidance agreements with its major trading partners
  • 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%.
  • 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.
  • The Ministry of Finance announced the tax reform plan for 2004 on December 19 2003