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  • Watson Farley hires A&O tax lawyer
    Watson, Farley & Williams has hired a senior associate from Allen & Overy for its New York tax group. Patricia Iandoli has joined the firm's international tax group as a partner. Iandoli specializes in asset finance tax work.
    March 30 2003
  • US Senate halves Bush’s tax cuts
    After beating the odds and successfully making it through the House of Representatives unaltered, Bush’s trillion-dollar Budget and tax cut last week failed in the Senate
    March 30 2003
  • Israeli Budget introduces new taxes and removes tax breaks
    On March 26, the Israeli cabinet approved Finance Minister Benjamin Netanyahu's Budget, which aims to reduce the Budget deficit by cancelling geographically-based tax breaks (saving NIS1 billion ($215 million)), levying an employers tax on foreign workers and cutting the defence and other government procurement budgets.
    March 30 2003
  • Freshfields advises on sale of Polymer Latex
    Freshfields, Bruckhaus, Deringer has advised Degussa on its $250 million sale of Polymer Latex. Tax advice was provided by Hans-Joerg Ziegenhain of Freshfields, Bruckhaus, Deringer in Munich. Polymer Latex was bought by Soros Private Equity Partners, which was advised by Eugen Bogenschuetz of Allen & Overy in Frankfurt.
    March 25 2003
  • Allen & Overy advises Six Continents on £4.8 billion demerger
    International law firm Allen & Overy is advising Six Continents on its £4.8 billion ($7.8 billion) plan to split the company into two holding companies; Mitchells & Butlers and InterContinental Hotels Group. David Lewis and Anne Powell are providing tax advice on the demerger from Allen & Overy's London office. The two holding companies are receiving tax advice from Charles Hellier and Stephen Pevsner of Linklaters, also in London.
    March 23 2003
  • Commissioner rejects limits to auditor liability
    Despite pressure from audit firms, the European Commission is refusing to propose legislation to limit auditor liability
    March 23 2003
  • Budget boosts Singaporean competitiveness
    Singapore companies with overseas branches and subsidiaries were given a boost last month when the government announced a Budget which, according to the country’s Finance Minister, Lee Hsien Loong, will exempt 90% of Singaporean companies’ overseas income from tax
    March 23 2003
  • Royal Bank of Scotland acquires 80% of Southern Water
    Martin Lynchehan, Elizabeth Conway and Richard Hawkins of Linklaters in London have advised Royal Bank of Scotland on the tax issues involved in the bank's acquisition of 80% of Southern Water. Nick Cronkshaw of Simmons & Simmons in London advised Southern Water on tax matters. The deal was valued at £4.8 billion ($7.5 billion).
    March 23 2003
  • Gowlings’ head of tax quits for Davis & Company
    Catherine Brayley, a partner and the leader of Canadian firm Gowlings' tax national practice group is leaving the firm for rival firm Davis & Company. Davis & Company is one of the biggest law firms in Western Canada and has a separate consulting arm dealing solely with alternative dispute resolution services. Brayley provides advice on the tax issues on mergers, acquisitions, employment compensation arrangements and personal tax issues.
    March 23 2003
  • Italy blocks tax package
    European economics and finance ministers failed to reach agreement on the tax package at a meeting last week after Italy continued to block the package’s progress
    March 23 2003
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