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David Evans, Robert Hodges and Ben Kiekebeld of Ernst & Young analyze the case and what it means for cross-border loss relief across Europe

The official protocol of March 12 2002 amending the Swiss-German Double-Tax Treaty entered into force on March 24 2003. The following changes apply.

Guillermo Perez takes on the leadership of the tax practice in Argentina while José Miguel Romero has been appointed as tax leader in Bolivia. Perez is a senior partner at Pistrelli, Henry Martin y Asociados, a member firm of Ernst & Young and has broad experience in international tax, cross-border transactions, reorganizations, acquisitions and privatizations.

Anthony Davis, a former senior adviser at the UK Inland Revenue, has joined Cadwalader, Wickersham & Taft as special counsel in London. The move represents a new beginning for the firm in providing tax advice from the UK. Davis will advise on tax issues within a broad range of securitization, restructuring and insolvency matters both in the UK and Europe. The ex-Ernst & Young and Lovells partner comes from an unprecedented position at the UK Inland Revenue where he was employed to give an external perspective to business tax policy.

Chester Wood has taken on the role of national managing partner of Deloitte & Touche's tax practice in the US. Wood succeeds Barry Salzburg who was named managing partner of the entire US firm. The move represents a promotion for Wood, who previously occupied the position of deputy managing partner of the tax practice.

John Whiting: Clients may face more intrusive questions Mark Lee: Accountants want to ensure that the new regulations are workable New legislation on tax offences will hit UK tax practitioners this autumn. Directive 2001/97/EC of the European Parliament requires all member states to pass national legislation to prevent the use of the financial system for the purposes of money laundering and tax evasion. In the UK implementing legislation, financial gains from tax-related offences is treated the same as proceeds from money laundering, drug trafficking or theft.

Customs and Excise are cracking down on missing trader fraud (where a supplier in a chain of transactions fails to account for VAT and simply disappears), particularly in the computer chip and mobile telephone markets. This may lead to a person who is not involved in the fraud suffering a VAT cost.

The new rules below can be applied to the investment on or after January 1 2003, but from the years ending on or after April 1 2003. If a corporation, whose business yearend is March, acquires the eligible asset during the period from January 1 to March 31 2003, it can enjoy the tax benefits in the year beginning April 1 2003.

Under the Indian tax law, an individual's tax status is that of a resident or non-resident. A resident individual is further categorized as a not-ordinarily resident or an ordinarily resident.

David Benson and Michael Mundaca of Ernst & Young deliver an update on President Bush's tax-cut package and outline the implications of the new US-Japan tax treaty