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  • 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 US Internal Revenue Service (IRS) announced the first quarterly update of its 2003-2004 Priority Guidance Plan on November 3 2003. The plan reflects the IRS commitment to produce more timely published guidance on tax developments.
  • A comprehensive global transfer pricing survey carried out by Ernst & Young and released on November 5 2003 revealed that the UK Inland Revenue is lagging behind many of its international counterparts
  • The Hungarian government voted to modify some of the tax measures contained in the 2004 Budget proposals on November 3 2003. As a result, capital gains tax will not be increased from 20% to 25% as proposed and 25% of the amount paid by businesses in the much-maligned local tax will be deductible from corporate tax payments.
  • Arnaud Le Boulanger, an economist specializing in transfer pricing, joined CMS Bureau Francis Lefebvre on November 5 2003. Le Boulanger was formerly head of HSD Ernst & Young's team of economists.
  • 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
  • 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.
  • 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.
  • 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
  • The largest Russian oil company Yukos said it would continue to minimize tax payments within the law. The announcement on November 4 2003 comes 10 days after chief executive Mikhail Khodorkovsky, who resigned on November 3 2003, was arrested for alleged tax evasion.