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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

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.

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

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.

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

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.

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).

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.

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