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  • In a decision published February 18 2003, the European Commission (Commission) decided that the Belgian coordination centres (BCCs), the Dutch international financing activities arrangements (IFA) and the Irish tax exemption for certain foreign dividends and foreign branch profits gave tax advantages that were contrary to the EU rules on state aid.
  • The associated tax and legal firm for Pricewaterhouse-Coopers in Italy, Studio Pirola Pennuto Zei has lost a team of ten people from its tax group.
  • Gustavo Haddad: wants to strengthen tax group The Brazilian law firm Goulart Penteado, Iervolino e Lefosse Advogados, which is associated with Linklaters, has lured a tax partner from KPMG. Gustavo Haddad, who joined KPMG in 1994 started working at Goulart Penteado in São Paulo on March 17 2003 and will lead the firm's tax group. He joined with fellow KPMG lawyer Bruno Carramaschi.
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  • A bi-partisan group of US lawmakers said this week that it is seeking to permanently ban taxes on internet access
  • 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
  • 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
  • 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.
  • 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.
  • 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