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Glenn Hubbard has resigned from his role as chairman of the White House Council of Economic Advisers. Hubbard, who played a key role in President Bush's tax-cutting programme, is expected to return to Columbia University where, until joining Bush's government in 2001, he was a professor of economics. Bush intends to nominate Nicholas Gregory Mankiw, an economics professor at Harvard University, to replace him.

The Australian and New Zealand governments have reached agreement on a solution for the trans-Tasman triangular tax issue. This represents significant progress in addressing a vexing issue that has been on the agenda of both countries for a number of years - and affected businesses will be glad the long wait is over.

In a vote taken on March 14 2003, which came as no surprise, the Federal Council (Bundesrat) rejected the comprehensive tax Bill introduced by the German government in November 2002. The Tax Preference Reduction Act (Steuer-vergünstigungs-abbau-gesetz or StVergAbG) had cleared the German parliament (Bundestag) by a slim margin in late February. Even after being watered down several times in the course of the legislative process, the legislation still contained important revenue-boosting measures, such as a 50% limit on the offset of the profits of any single year in excess of €100,000 ($108,000) by losses carried forward (net operating losses).

French tax authorities have just released administrative guidelines (Official Tax Bulletin, 4 H-1-03, February 26 2003) regarding the inapplicability of a branch tax in France on the profit share due to the foreign partners of a partnership whose head office is in France.

India's latest Budget has many lures to attract investment into the country. Samir S Mogul, S I Mogul & Co, Mumbai, navigates the new tax landscape for multinationals

The South African Budget announced February 26 introduced tax measures aimed at stimulating business and encouraging investment into the country. One of the most significant measures is the removal of tax on some foreign dividend repatriations. By removing the tax on dividends repatriated into South Africa the government hopes to encourage capital inflows.

The European Commission has launched open consultations on EU company taxation. The first consultation involves using international accounting standards to develop an EU-wide consolidated tax base for companies. The second involves a pilot of the home state taxation scheme for small-and-medium-sized enterprises (SMEs) that would allow an SME to account for EU-wide profits in one tax declaration.

WJB Chiltern has expanded its customs and excise team with a former HM Customs & Excise official. Allan Brown has joined WJB Chiltern's value added tax (VAT) and customs & excise investigations team which advises the accounting and legal profession and clients on litigation and fraud investigations by customs & excise.

Breaking with the trend for accounting-tied law firms increasing the distance between them and their owners, Donahue & Partners, an independent law firm allied with Ernst & Young has opened a new office in Chicago. The office will concentrate on corporate restructuring, global equity plans and corporate or M&A. It will be staffed by one US and four Dutch lawyers. Eberhard Röhm, an ex partner of Fulbright & Jaworski will lead the office.

2300 First City Tower, 1001 Fannin, Houston, Texas 77002-6760 US