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  • The UK government signed a protocol that amends the 1938 UK-New Zealand Income Tax Treaty on November 4 2003. The protocol updates provisions on business profits, dividends, interest, royalties, exchange of information, and treatment of capital gains.
  • The federal government issued a decree granting tax incentives and tax relief on October 30 2003. The decree includes measures on corporate income tax and VAT.
  • Konstantin Mettenheimer, a tax lawyer at Freshfields Bruckhaus Deringer, was appointed joint senior partner on November 7 2003. Mettenheimer will take up the position in the Frankfurt office from May 1 2004.
  • Much attention has recently been focused on the issuance of new regulations—the final regulations regarding stock-based compensation and proposed new regulations governing services—there has been no lack of important developments in the IRS’s advance pricing agreement (APA) programme
  • Tax payers have not responded well to the Belgian government’s tax amnesty to repatriate funds before the EU Savings Directive comes into force on January 1 2005
  • Legislation introduced into the Australian Parliament on foreign exchange gains and losses – contained in the New Business Tax System (Taxation of Financial Arrangements) Bill (No 1) 2003 (TOFA Bill) – overhauls the tax treatment of foreign exchange gains and losses for most taxpayers
  • Kenneth Snider, formerly a tax partner at Ogilvy Renault, joined Blake, Cassels & Graydon in Toronto on November 5 2003. Snider's practice focuses on the tax aspects of domestic and international mergers and acquisitions, reorganizations, financial products, inbound and outbound investment and corporate finance.
  • US Treasury Secretary John Snow and Commerce Secretary Don Evans expressed their strong support on November 6 2003 for legislation to make the internet tax moratorium permanent. The moratorium applies to taxes on internet access, regardless of the speed of that access, and to multiple or discriminatory taxes on electronic commerce.
  • The Supreme Court of the Netherlands ruled that the country's tax authorities can no longer levy tax on fuels that go missing during transport within the EU on October 24 2003. Previously, the tax authorities levied excise duty on small remnants of fuel that are lost in transit.
  • James Guadiana, formerly head of tax at the New York office of Davies, Ward, Phillips & Vineberg, joined Torys on November 4 2003, as part of the firm’s drive to expand in the region