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  • European Commission turns up the heat on pension discrimination
    The European Commission (EC) has launched an attack on discriminatory tax systems against foreign pension funds in six member states
    February 09 2003
  • Ireland cracks down on tax avoidance
    With its corporate tax rate down to 12.5% Ireland cannot afford to let any potential revenue slip through the net and its 2003 Finance Bill announced last week attempts to remove the risk of this happening
    February 09 2003
  • Auto Lease Holland BV v Bundesamt für Finanzen
    Sixth VAT Directive – Place of taxable transactions – Refund of VAT paid in another member state – Motor vehicle made available under a leasing contract – Fuel management agreement – Person having been supplied with fuel.
    February 06 2003
  • KapHag Renditefonds v Finanzamt Charlottenburg
    Sixth VAT Directive – Taxable transactions – Concept of ‘economic activity’ – Admission of a new partner to a partnership in consideration of payment of a contribution in case.
    February 06 2003
  • Germany to reverse law blocking true sale securitization
    The German government has said it will exempt banks from a law that has made true sale securitizations impossible for the past two years
    February 02 2003
  • UK announces corporate governance reform
    Measures announced by the UK trade and industry secretary last week to toughen up protection against business malpractice have spared professional services firms from drastic reform
    February 02 2003
  • Big four spared in SEC guidelines
    A lenient Securities & Exchange Commission (SEC) has granted the big four permission to provide tax services to audit clients into the foreseeable future
    February 02 2003
  • Allen & Overy advises on Northern Rock securitization
    Allen & Overy advised Schroder Salomon Smith Barney and Merrill Lynch on a £3 billion ($4.9 billion) securitization for Northern Rock. The securitization was backed by its portfolio of residential mortgages and allows Northern Rock to issue new home loans. Securitization partner Salim Nathoo led the Allen & Overy team with Mark Brailsford and Adam Blakemore advising on tax matters.
    February 02 2003
  • Israel aims for Budget cuts
    The Israeli ministry of finance is going to submit a plan worth NIS5 to NIS8 billion ($1 billion to $1.6 billion) in Budget cuts and tax changes. According to The Globe newspaper in Israel, the ministry also intends to bring its planned tax reform forward to July this year and implement it fully within the next three years instead of the original intention of implementing it within the next five years. The plan will probably be submitted in March or April this year.
    February 02 2003
  • Pirelli defeats UK Inland Revenue
    The Pirelli tyre group won its case in the UK High court on January 22 against the Inland Revenue and the decision will leave the path clear for other companies claiming compensation for the UK revenue’s attempts to delay repaying businesses
    February 02 2003
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