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  • Anita Paddock and Chris Oates of Ernst & Young consider what the Australian experience may herald for corporate tax self-assessment elsewhere
  • 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 Belgian government amended its tax amnesty plans on October 13 2003 after pressure from the country's highest court, the Belgian Council of State. The new proposals mean that taxpayers that qualify for the amnesty and repatriate funds in Belgium will be able to do so using foreign bank accounts.
  • Howard J Barnet and Dan Pittman of Carter Ledyard & Milburn explain how multinationals can take advantage of the exemption on air and shipping income
  • 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.
  • Japanese government looks set to introduce a 2% tax surcharge on companies paying taxes on a consolidated basis. The new tax is expected to take effect in April 2004 for a period of two years and would partly compensate for an expected drop in corporate tax revenues if companies are allowed to pay taxes on a consolidated basis.
  • American manufacturers could get a corporate tax cut of 3 percentage points by 2007. The tax rate cut from 35% to 32% proposed by Bill Thomas, Chairman of the House Ways and Means Committee, would deliver a $61 billion saving over the next ten years.
  • Hans-Martin Eckstein, formerly a tax partner with Haarmann Hemmelrath in Stuttgart, will join PricewaterhouseCoopers on November 1 2003. Eckstein focuses on M&A and transfer pricing.
  • In September 2003 the Mexican Congress approved the Mexico – Australia Tax Treaty (the Tax Treaty)
  • The German Bundesrat approved a Law establishing transfer pricing documentation requirements on October 17 2003