Search results for

On April 23 2003 the European Commission partly approved the proposed new rules for Belgian coordination centres (BCC). These new rules are designed to replace the old BCC regime, which the European Commission ordered on February 17 2003 to be phased out by the end of 2010.

Under Italian law, the sale of a going concern is outside the scope of value-added tax (VAT) - consistently with the EU VAT Directives - and is subject to registration tax, irrespective of the assets that are part thereof.

The 2003 Mexican tax reform restricted indirect foreign tax credits to only first-tier companies. This meant that any Mexican company that had an investment outside Mexico through a foreign-holding company would be unable to credit the foreign taxes paid by the second-tier company. Clearly, this had a significant negative effect on many Mexican multinationals or other transnational companies that used Mexico as a springboard for their Latin American investment.

International consulting firm LECG has hired a group of former Andersen staff to develop a European transfer pricing group in London. Former Andersen international tax partner Richard Fletcher is leading the group and has joined as a director. Senior economist Stephanie Pantelidaki and senior associate Darren Andrews joined the firm earlier this month. Both Pantelidaki and Andrews initially joined Deloitte & Touche when it merged with Andersen. Another ex-Andersen partner Nicholas Woolf is also working with the group as a consultant.

CFC taxation

US manufacturing multinational Ferro has hired Thomas Gannon as corporate vice president and CFO. Gannon will be responsible for overall financial management including accounting, tax and budgeting. Before joining Ferro he worked at Riverwood International, Rockwell International, Pilkington and PricewaterhouseCoopers. Ferro produces performance materials for industrial coatings and performance chemicals and has operations in 20 countries.

Jeffrey Friedman and Glenn Walsh of KPMG analyze efforts to streamline US sales and use taxes in the face of projected Budget deficits

Attorneys ? Tax Advisors

Zurich, Switzerland

Larry Gafinowitz and Peter McCullough of Deloitte & Touche discuss the potential benefits for Australian and non-resident companies in the 2003 Budget