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  • Treasury hits out at abusive transactions
    Tax leasing fiddles are costing the US almost $34 billion over 10 years, according to Pamela Olson, assistant treasury secretary for tax policy. Measures to target abusive tax transactions were included in the Treasury's proposed fiscal year 2005 budget plan, which was published on January 13 2004.
    February 01 2004
  • Australia finalizes treaties with UK and Russia
    Australia finalized double taxation treaties with the UK and Russia on December 17 2003. The Australia-UK treaty will go into effect on 1 July. The Australia-Russia treaty became effective on 1 January 2004.
    February 01 2004
  • Greenberg Traurig adds tax partner
    US law firm Greenberg Traurig added Richard Petkun to its tax practice in Denver on January 7 2004. Formerly of Isaacson Rosenbaum Woods & Levy, Petkun's practice focuses on international tax, transactional and real estate tax matters.
    February 01 2004
  • Planitax appoints Langdon to the board
    Planitax, a software and services provider for the corporate tax function, appointed Larry Langdon to its board on December 24 2003. Langdon is a former commissioner of the large and mid-size business division at the IRS and leads Mayer, Brown, Rowe & Maw's global tax practice.
    February 01 2004
  • Weil Gotshal replenishes UK tax practice and expands in Germany
    US law firm Weil Gotshal & Manges hired John Baldry from Allen & Overy as of counsel to boost its London tax practice. The move comes after the loss of corporate tax partner Gary Richards to Berwin Leighton Paisner. In addition Weil Gotshal will open a new office in Munich, with tax partner Tobias Geerling relocating from the firm's Frankfurt office.
    February 01 2004
  • Treasury releases 2005 Budget proposals
    In January, the US Treasury Department released its Budget proposal for 2005 fiscal year. The Budget includes six proposals that relate particularly to outbound corporate and individual planning.
    February 01 2004
  • CMS Bureau Francis Lefebvre adds African tax expertise
    French law firm CMS Bureau Francis Lefebvre has hired four tax specialists to expand its presence in Africa. Lamiae Homman-Ludiye, Pierre Marly, Deana d'Almeida and Jacques Isabelle, all former HSD Ernst & Young lawyers, joined the Africa section of CMS's Paris office on January 20 2004.
    February 01 2004
  • What the streamlined sales tax project offers
    Foreign corporations that have US subsidiaries selling tangible personal property within the US may be familiar with the concept that the commerce clause of the US Constitution, which serves to limit state action to the extent that it burdens national commerce, prohibits a state from requiring sellers who have no physical presence or a de minimus presence within the state (known as remote sellers) to collect sales tax on purchases of goods shipped to in-state customers.
    February 01 2004
  • New expatriate tax regime takes effect
    Spain has put a favourable tax regime in place for foreign employees assigned to the country, effective January 1 2004. Individuals that transfer their tax residence to Spain can opt between being subject to personal income tax as Spanish residents and being treated as non-residents, provided that they meet certain requirements:
    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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