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Internet service provider AOL is expanding its Luxembourg operations to reduce its value-added tax (VAT) liability. The move comes in anticipation of the EU's Taxation of Digital Sales Directive, which comes into effect on July 1 this year and means that the company will have to start charging customers VAT on digital downloads.

Basic International Taxation - gives insights into some of the nooks and crannies of international tax The author's preface declares Basic International Taxation to be a clarification of the basic principles of international taxation, and it succeeds very well. There are numerous books that look at subjects within the field of international taxation, but what Roy Rohatgi has produced is a work that spans the entire subject and places the various elements in context. For those who are looking for basic understanding, perhaps as a prelude to more in-depth analysis or as occasional practitioners of international tax, Basic International Taxation will be a useful addition to the bookshelf.

Baker & McKenzie's Global Tax Practice has had an international focus since the Firm was established in 1949. More than 50 years of development has produced an unparalleled level of experience and professional resources internationally. With more than 450 tax attorneys in 36 countries Baker & McKenzie has the infrastructure and depth of talent to provide global integrated tax and legal solutions.

by Timothy J McCormally, Executive Director, Tax Executives Institute

Visit our website at: www.ey.com/internationaltax

The Lovells tax practice comprises 18 tax partners and 35 associates. Lovells provides a comprehensive range of international and domestic business and corporate tax planning services. The firm has its own tax capacity in the offices listed below.

Our international tax team comprises over 40 practitioners in seven European jurisdictions. We advise on M&A tax planning, international group structuring, capital markets and banking taxes, employment taxes, real estate taxes, VAT and other indirect taxes, tax investigations and disputes, all as a matter of course. In addition, we have recognised experts in the areas of trusts and private capital tax planning, share incentives and employee benefits and onshore and offshore collective investment schemes.

In a ruling released in April this year, Germany's highest tax court has referred a case to the European Court of Justice (ECJ) that gives this body the opportunity to decide whether EU member states may deny their taxpayers a deduction for losses incurred in another EU member state (German Federal Tax Court ruling of November 13 2002 - IR 13/03).

The Dutch grocery group Ahold revealed on May 26 that "intentional accounting irregularities" and "misapplications of generally accepted accounting principles" mainly at their Tops Markets US subsidiary, had forced it to reduce predicted pre-tax earnings by $29 million. The company was forced to restate its earnings for 2001 and 2002 and reduce its profits by $500 million earlier this year after irregularities were found in the accounts of its US subsidiary.