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Argentine R&D deadline looms

Time is running out for those wanting to take advantage of Argentina's new research and development tax credits. Daniel Rybnik explains how the new system works

November 01 2003

EU steps closer to harmonization

Hans van den Hurk of Deloitte explains the ramifications of the ECJ's Bosal decision

November 01 2003

Clyde & Co nabs tax lawyer from Freshfields

Tax lawyer Tim Crosley moved to Clyde & Co in London from Freshfields Bruckhaus Deringer on October 23 2003. Crosley specializes in domestic and cross-border tax work and has advised banks and large companies on specialist and structured finance.

November 01 2003

IRS marches on in war on tax shelters

Senate Finance Committee hearings in Washington DC, reveal that while the US Internal Revenue Service (IRS) is unrelenting in its initiative to crack down on so-called abusive tax shelters, it still has its work cut out.

November 01 2003

France separates tax and audit services

The big four accounting firms could be barred from offering non-audit services to audit clients under a law regulating the financial services industry (Loi de Securité Financière) announced in August 2003. The French government expects to introduce regulations that will provide more detail, possibly early next year.

November 01 2003

Multinationals fail to retrieve advance corporation tax payments

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)

November 01 2003

Vacancy opens up in IRS after internal promotion

Cynthia Mattson was promoted to division counsel, large and mid-size business, within the IRS. The move leaves the position of deputy open.

November 01 2003

Argentine Congress passes grain tax reform bill

Argentina's Congress passed a grain tax reform bill on October 1 2003 that angered members of the country's powerful agricultural industry. The bill will force grain exporters to pay income taxes based on the value of the product at the time of shipment rather than when the grains are sold. It aims to end the practice of selling grain at submarket prices to third-country tax havens, which allows exporters to declare much lower taxable earnings.

November 01 2003

Greece woos large foreign investors with tax cut

The Greek government announced plans to cut the corporate tax rate from 35 to 25 percent for investments over ?30 million on October 6 2003. The plans are part of its drive to attract more foreign investors and would run for 10 years.

November 01 2003

Portugal proceeds with corporate tax cut

Despite the objections of central bank officials, the Portuguese government intends to press ahead with its corporate income tax cut. The rate will be cut from 30% to 25% in 2004.

November 01 2003

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