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Australian law firm Mallesons Stephen Jaques has started a tax practice in London. Senior associate Tim Sherman moved to the London office from Melbourne earlier this year. Sherman focuses on corporate tax including the taxation aspects of investment and trade between Australia and the UK. He also has experience of the taxation of international employee share ownership plans.

Members of the European Commission last week agreed on a proposed Directive on energy taxation after Austria dropped its reservations

Plans by the SEC’s newly-created Public Company Accounting Oversight Board (PCAOB) to make foreign audit firms register with the body when auditing companies issuing in the US are stirring up strong emotions in Europe

The Brazilian law firm Goulart Penteado, Iervolino e Lefosse Advogados, which is associated with Linklaters, has lured a tax partner from KPMG

The EU has taken another step towards imposing sanctions against the US in the ongoing trade war between the two countries over unfair tax breaks for US exporters

KPMG has set up a Japan tax centre of excellence in New York. The group will be led by tax partner Fumihiko Shimizu and will advise companies planning to invest or establish operations in Japan, as well as Japanese companies investing in the US.

The US House of Representatives last week voted through President Bush's 2004 Budget resolution complete with tax cuts. The House passed the entire $726 billion economic growth and jobs package with a narrow majority of 215-212 and approved a $2.2 trillion Budget for 2004. Many had feared the president would struggle to get the package approved as both Republicans and Democrats had criticized the package for being biased towards the wealthy and claimed that the country could not afford the cuts with an escalating Budget deficit and an expensive war with Iraq on the cards.

UK Chancellor Gordon Brown has been accused of misleading high wage bracket earners about pension tax

Thirteen partners and 38 staff from DJ Freeman are joining Olswang on May 1 2003. As well as the majority of the firm's property practice and media experts, tax partner Graham Chase is joining the firm. Chase specializes in corporate tax, value-added tax (VAT) and stamp duty planning. DJ Freeman is rebranding as Kendall Freeman and focusing purely on insurance, corporate and litigation.

The European Commission has decided to refer Spain to the European Court of Justice (ECJ) for failing to comply with its decisions on tax aid in the provinces of Alava, Guipúzcoa and Vizcaya. The decisions made by the EC in July 2001 found that certain tax aid schemes granting tax credits and tax holidays introduced in the provinces were illegal because they did not comply with the rules on regional aid from the national government to small-to-medium-sized enterprises. Despite several reminders, Spain has not carried out the European Commission's instructions to discontinue the schemes and recover all aid already paid out.