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  • The government of the Republic of Korea has introduced a stimulus package, which includes tax incentives that are intended to give the sagging economy a much-needed boost
  • Air France completed a €615 million ($700 million) securitization of 16 passenger planes in July 2003 using Ireland as a location for part of the transaction
  • The UK government is considering merging the Inland Revenue and Customs and Excise after announcing a review of the two bodies on July 2
  • Deloitte & Touche in the UK announced a 74% increase in tax revenue on July 10 2003
  • The US Inland Revenue Service (IRS) is staging an aggressive campaign to force more than 90 accounting and law firms, brokerages and banks to disclose details of some of their tax services and details of customers for tax shelter structures they promoted
  • Robert Schneider, a partner at Wolf Theiss in Vienna, is setting up an independent firm
  • The EU VAT Directive agreed on February 12 2002 came into effect on July 1 2003. It requires member states to pass national legislation regarding value-added tax (VAT) on electronically-supplied services by July 1 2003
  • A Dutch court ruled on June 4 that Dutch investment funds with domestic as well as foreign shareholders should be entitled to the same tax benefits as investment funds with only Dutch shareholders
  • Centralizing business operations is increasingly part of a global business plan but ensuring corporate groups optimize the benefits requires careful planning. PricewaterhouseCoopers transfer pricing experts, Stuart Edwards and Lyndon James, examine the key tax and business planning issues to keep an eye on
  • PricewaterhouseCoopers international tax specialists, Peter Collins and Peter Le Huray, report on the emerging issues in Australia’s thin-capitalization regime including the potential impact of according changes as well as the application of general anti-avoidance rules