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Czech Republic to cut corporate tax

The Czech parliament on December 2 2003 approved gradual tax cuts that will reduce the corporate income tax rate from 31% to 24% by 2006.

December 07 2003

US inbound update: Pricing related-party services

The proposed section 482 services regulations change many aspects of the transfer pricing regulations for related-party services and the ownership of intangible property

December 07 2003

Denmark to close tax loophole

The Danish government has drafted legislation to put an end to tax-planning schemes used by Danish multinationals that result in a tax-free transfer of assets held by foreign subsidiaries

December 07 2003

Argentine update: New thin-capitalization rules released

Argentina has recently launched new thin-capitalization rules by reforming the Income Tax Law, effective October 22 2003

December 07 2003

How to reduce US tax on qualified dividends

Dividends from qualified foreign corporations received by US non-corporate shareholders will benefit from maximum reduced income tax rate of 15%. Oscar Teunissen, Oren Penn, Steve Nauheim and Puneet Arora of PricewaterhouseCoopers explain how it works

December 01 2003

European Commission to investigate Belgian VAT waiver

The European Commission announced an investigation into the fiscal settlement between the Belgian government and UMICORE, an international metals and materials group, after the Belgian government allegedly waived a ?20 million ($24.5 million) VAT liability.

December 01 2003

Matheson Ormsby Prentice elects new managing partner

Irish law firm Matheson Ormsby Prentice has elected the head of its tax practice Liam Quirke as managing partner. Quirke will retain a fee-earning role and remain head of the tax practice when he takes the top job on January 1 2004.

December 01 2003

PricewaterhouseCoopers loses tax team in South Africa

Bernard du Plessis: Appreciates working in a strong transactional practice South African law firm Sonnenberg Hoffman Galombik (SHG) picked up four senior PricewaterhouseCoopers tax specialists on December 1 2003. Their arrival follows a move to SHG by a 17-strong KPMG tax team in September 2002.

December 01 2003

Changes required to implement the latest EU Directives

Spain only needs minor changes in its tax law to carry out Directives on taxation of savings income (2003/48/EC) and of interest and royalty payments (2003/49/EC).

December 01 2003

Double tax agreements promote air and shipping

The Hong Kong SAR government is making agreements to avoid double taxation on income from international transportation operations with other countries and is developing Hong Kong as an international logistic centre. The latest agreement, on shipping operations, was signed with Norway in October 2003. It was the fifth of its kind and the second this year. Another was made with Germany earlier this year.

December 01 2003

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