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With its tax rate of 12.5% and a tax system that since 1997 has aimed to make securitization deals effectively tax-neutral, Ireland is already a popular onshore location for securitization. But changes announced in its Finance Bill in February 2003 should make the country even more attractive

White & Case has hired two Ernst & Young tax advisers for its Slovakian tax group

The European Commission has dropped its state aid probe into an Irish tax scheme and given the Belgium and Dutch governments more time to phase out tax schemes it says are incompatible with state aid rules

The OECD's Financial Action Task Force (FATF) is meeting in Paris this week to discuss new methods of terrorist financing and money laundering as well as reviewing developments in non-cooperative countries.

The Czech Ministry of Finance and the country's Chamber of Tax Advisers are testing electronic VAT returns. They are looking at issuing, filing, receiving and recording the forms electronically with the system due to be fully active in March this year.

UK accounting firm BDO Stoy Hayward, has predicted that its big four rivals could lose hundreds of millions of pounds as a result of the Sarbanes-Oxley Act. BDO has carried out research on the amount of fees at risk and estimates that in the UK alone, the big four could lose roughly £67 million ($108 million) purely on tax work while £252 million could be at risk in areas including valuation and forensic accounting work. Its research concluded that in total nearly £700 million in fees could be affected. While much of this will go to other big four firms, BDO is optimistic that mid-tier accounting firms could also benefit.

Proposals in Japan to allow the use of foreign company shares in stock-for-stock deals with domestic entities will be ineffective because the government will not remove prohibitive tax burdens

Ernst & Young has successfully struck out a £2.6 billion claim against it by Equitable Life and the judge described Equitable’s alternative bonus claim as ‘seriously flawed’

President George W Bush’s Budget announced last week includes measures aimed at cracking down on tax avoidance and non-compliance by both individuals and businesses

US law firm Dorsey & Whitney has launched a tax litigation group in London after acquiring the majority of Landwell’s UK tax litigation group