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  • Ernst & Young has released its predictions for the UK pre-Budget report and warned that the government’s approach to UK tax issues could harm business and discourage investment
  • Italian law firm Bonelli Erede Pappalardo hired lawyer and tax consultant Andrea Silvestri from Deloitte & Touche. Silvestri will lead a team of seven individuals as head of the firms newly launched tax department.
  • Failure to fulfil obligations, Article 11 of the Sixth Directive (77/388/EEC) – Failure to impose VAT on subsidies granted pursuant to Council Regulation No 603/95 on the common organisation of the market in dried fodder – Concept of subsidies directly linked to the price.
  • Sixth VAT Directive – Article 5(8) – Transfer of a totality of assets – Continuation by the transferee in the same branch of business as the transferor – Legal authorisation to pursue the activity.
  • U.S. congressional leaders said on November 18 that they are not planning to complete work on legislation to replace the FSC Repeal and Extraterritorial Income Exclusion Act of 2000 (ETI Act) before they leave the end of the year. The European Union has given the Congress until March 1 2004 to repeal the ETI Act before it imposes trade sanctions on US industries.
  • UK Prime Minister Tony Blair insisted the EU would not be a threat to the UK's so-called low-tax status. Addressing the Confederation of British Industry Blair insisted he would not bow to pressure from the EU to harmonize taxes.
  • The French government announced plans on November 17 2003 to offer five-year tax breaks to foreign corporate executives. The move is intended to promote France's business environment and lure multinational companies from other countries.
  • Luxembourg’s ministry of finance has published a draft bill amending the law on certain tax-exempt holding companies
  • Two Brazilian courts of first instance have issued important decisions relating to the application of the Brazilian social contribution on net income (CSLL) for income derived from export transactions
  • The government of Kuwait announced a 10-year corporate income tax exemption for foreign business on November 16 2003. The tax exemption will begin from the date that businesses begin their commercial operations in the country and is designed to encourage foreign investment.