Search results for

The State Administration of Taxation (SAT) recently standardized the tax treatment of representative offices, effective from July 1 2003. The circular clarifies that tax treatment shall be based on the activities carried out by the head office:

Vanuatu has been removed from the OECD's list of uncooperative tax havens after the country committed to improving the transparency of its tax and regulatory systems and to establishing effective exchange of information for tax matters with OECD countries by the end of 2005. The list was published in April 2002 and the Vanuatu is the first to be removed. Six jurisdictions remain on the list.

Otto-Hans Nowak and Grant J Russell of Borden Ladner Gervais analyze how the Canadian government has amended its proposed scheme for non-resident trusts

Foreign investments in Spanish real estate have increased considerably in the past few years, requiring proper tax planning. José Maria Cusí and Carmen Gómez de Cadiñanos of Clifford Chance reveal how to do it tax-efficiently

Hal Hicks: An opportunity he could not turn down The US Internal Revenue Service (IRS) has taken in a host of new talent, drawing key names from the private sector to boost its capabilities.

Companies will soon need to adjust to new rules governing the utilization and creation of revenue losses, if legislation currently before parliament is enacted. The changes are largely beneficial to companies and are proposed to apply from the income year in which July 1 2002 falls.

IntraPrice is an independent consulting firm established to provide a full spectrum of transfer pricing services to assist multinational clients in handling the many issues surrounding the cross-border transfer of goods, services and intangibles. Established in 2000 and based in Amsterdam, the company is staffed by specialists with extensive transfer pricing, international tax, economics and business experience. IntraPrice assists multinationals in recognising and understanding their transfer pricing matters with the purpose of providing practical solutions. www.intraprice.com

Since the Finance Act 1999, taxpayers who have been residents of France for tax purposes for at least six years within the last ten years are taxable on the latent capital gains derived from participations of 25% or more that are held directly or through family members, on transferring their residence outside France. This exit tax, which is codified under section 167 of the French Tax Code, is intended, in particular, to deter taxpayers from changing residence prior to the sale of a business.

The World Trade Organization granted the EU permission to apply sanctions worth $4 billion against the US in the ongoing Foreign Sales Corporation case on May 7. The EU wants the US to ensure compliance with the WTO rules before the beginning of next year and will review the US' progress in autumn this year. The most popular bill in the US to deal with the export subsidies is the Crane Rangel Bill which suggests replacing the FSC benefit with tax benefits for companies producing their good in the US rather than overseas.

Leading Australian tax boutique Shaddick & Spence has hired a former partner of law firm Allens Arthur Robinson. Cameron Rider joined the firm in May as a special consultant. Rider will also continue his role as a professional fellow at Melbourne University law school where he is the director of tax studies on the postgraduate tax programme.