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  • Biotech company ImClone announced last week that it is delaying the announcement of its financial results and may be forced to restate its earnings from 2001 onwards to cover the unpaid taxes of its former chief executive
  • Five of HealthSouth's executives, including the group vice president of accounting have pleaded guilty to conspiring to inflate company earnings
  • PricewaterhouseCoopers has hired Lindy Paull, the former chief of staff of the Congressional Joint Committee on Taxation as co-managing partner of its Washington national tax services practice (WNTS)
  • French media company Vivendi Universal has reacted angrily to press reports claiming that it faces a potential tax liability of $2.7 billion over its merger in the year 2000 with Seagram
  • The Australian Tax Office (ATO) and Integral Energy have signed an advanced compliance agreement on goods and services tax (GST)
  • Orrick Herrington & Sutcliffe is opening an office in Milan with 23 lawyers from Ernst & Young’s Italian legal arm, Studio Legale Tributario
  • The US Internal Revenue Service (IRS) and Treasury are cracking down on offshore-deferred compensation arrangements involving domestic and foreign employee leasing companies and urging taxpayers using the schemes to come forward by April 15
  • VAT – Sixth Directive – Exemptions for certain activities in the public interest – Body – Meaning – Services performed by a natural person – Cultural services by a soloist.
  • By Andrés Edelstein and Nicolás Malumián, PricewaterhouseCoopers, Buenos Aires
  • Deloitte & Touche House