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  • Australia rules against employee benefit trusts
    The Australian Tax Office last week welcomed the Federal Court decision in Kajewski v Commissioner of Taxation holding that an employee benefit trust scheme was not tax effective
    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
  • 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
  • SEC's acting chief accountant quits
    The Securities and Exchange Commission's (SEC) acting chief accountant is leaving the organization and returning to private practice. Jackson Day joined the SEC in September 2000 as deputy chief accountant and became acting chief accountant in November last year.
    March 30 2003
  • European venture capitalists call for tax harmonization
    Differences in national tax and legal regimes across Europe are hampering the development of Europe’s private equity and venture capital sector, the European Venture Capital Association (EVCA) said this week
    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
  • eu20flag.gif
    EU proposes quarterly reporting law
    In a move that will dramatically change the EU's corporate environment, the European Commission is to require companies listed in the EU to issue quarterly reports
    March 30 2003
  • ICAEW appoints accounting standards head
    The Institute of Chartered Accountants in England & Wales has appointed Hazel Powling as its head of implementation of international accounting standards. The international standards are set to come into effect in 2005.
    March 30 2003
  • US aims to extend internet tax ban
    A bi-partisan group of US lawmakers said this week that it is seeking to permanently ban taxes on internet access
    March 30 2003
  • London Stock Exchange pushes to abolish stamp duty
    The London Stock Exchange last week called for the UK Chancellor of the Exchequer to abolish stamp duty on share transactions in his Budget to be announced later this month
    March 30 2003
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