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  • Sed Crest reveals what kind of picture the survey of tax services in Latin America draws and presents the challenges for tax directors and warnings for tax advisers
  • On October 31 2003 the Brazilian government issued Provisional Measure (PM) 135/2003, promoting changes to the COFINS tax regulations.
  • Stephan Baumann of Deloitte & Touche warns that even though Switzerland's lump-sum tax credit system may relieve the burden of double taxation, the complex procedures demand a cautious approach
  • On September 30 2003 the European Court of Justice (ECJ) ruled that certain obligations imposed by Dutch law on companies formed abroad but having their principal place of business in the Netherlands are incompatible with EC law (case c-167/01, Inspire Art Ltd)
  • The Treasury recently finalized an amendment to its regulations on qualified cost-sharing arrangements (QCSAs) requiring that the deemed cost of stock options and other stock-based compensation be treated as a development cost to be shared with the participants of a QCSA along with the cash-based compensation of the employees involved in the development of intangibles subject to the arrangement
  • The first draft of the new 2004 State Budget Bill that has been made public contains a couple of relevant changes to the rules on thin capitalization and controlled foreign corporations (CFCs)
  • South African law firm Sonnenberg Hoffman Galombik picked up four PricewaterhouseCoopers partners on December 1 2003
  • The UK has demanded that the Cayman Islands drop its opposition to the EU Savings Tax Directive and comply with the EU crackdown on tax evasion. The Directive aims to tax cross-border interest payments to EU residents from 2005, prompting fears that the Caymans' lucrative financial services industry will suffer.
  • Dominique Derveaux, manager of the tax and structured finance practice at Denton Salès Vincent & Thomas, was appointed managing partner of the firm’s Paris office on November 17 2003
  • More than 70 multinationals failed to reclaim hundreds of millions of pounds from the UK Inland Revenue in a high court group litigation case on advanced corporation tax (ACT)