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  • New government unveils anti-evasion initiatives
    The newly elected national government announced few weeks ago a reform package, now before Congress, intended mainly to combat tax evasion. Among other unveiled initiatives, the executive has made public its intention to reinforce the punitive legislation on tax crimes and submitted amendments to the income tax.
    August 31 2003
  • Blake Dawson Waldron expands tax group
    Blake Dawson Waldron hired Geoff Mann, former head of tax at Freehills, on August 19 2003. Mann will be working with clients on GST, stamp duty, land tax and employee benefits tax from the firm's Melbourne office.
    August 31 2003
  • Hogan & Hartson sets up UK tax group
    The London office of US-firm Hogan & Hartson has expanded to include a tax practice, headed by former McDermott, Will & Emery tax partner Jonathan Ivinson. The practice will be advising on the tax aspects of mergers and acquisitions, fund work and dispute resolution.
    August 31 2003
  • Italy releases new corporate tax law
    The Italian government has published a draft of the proposed new law on corporate taxation, which it expects will come into force on January 1 2004. The wide-ranging tax reforms include reducing the corporate income tax rate from 36% to 33% and new participation exemptions.
    August 31 2003
  • Yell IPO features complex cross-border tax work
    Yell Group completed a listing on the London stock exchange with a $3.2 billion initial public offering in July 2003. Sarah Priestly, a tax partner at Weil, Gotshal and Manges in London, advised Yell Group. "The complicated deal was structured so that the US investors were not faced with tax problems," she said.
    August 31 2003
  • Russia clarifies tax registration procedures
    The Russian Ministry of Taxes and Levies published an order on the registration of foreign organizations with the tax authorities on July 28 2003. Changes to the way multinational companies are registered with tax authorities in Russia will take effect from October 1 2003.
    August 31 2003
  • VAT amnesty deadline approaches
    The UK Customs & Excise unique amnesty scheme closes on September 30 2003. The scheme allows businesses trading above the VAT threshold but not registered for VAT to register without incurring a penalty for late notification.
    August 31 2003
  • Uruguay extends tax incentives
    Uruguay's Executive Branch is expected to grant and/or extended tax benefits until May 31 2004. The decree, which has not yet been published, is designed to stimulate investment in the trade and service industries.
    August 31 2003
  • US tax cuts begin to take effect
    In May 2003 the US government passed The Jobs and Growth Tax Relief Reconciliation Act, significantly cutting taxes on dividends. Chief executives at some leading US firms now suggest the legislation is starting to reap rewards in terms of increased economic activity.
    August 31 2003
  • lee-sep03.gif
    Dealing with evolving international tax challenges
    By Chee Weng Lee, PricewaterhouseCoopers in Hong Kong
    August 31 2003
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