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  • Strikes overcome Bolivian tax rises
    Attempts to introduce a new income tax in Bolivia collapsed after violent strikes left more than 10 people dead and many more injured in the capital city, La Paz. The Bolivian president Gonzalo Sanchez, announced that he was abandoning his Budget in light of the violent demonstrations in the city. The country descended into violence after the government announced its intention to bring in a tax of 12.5% to reduce the budget deficit.
    February 23 2003
  • EY and KPMG lose transfer pricing partners
    Despite the obvious advantages of a network when it comes to transfer pricing work, two leading transfer pricing professionals have left the big four for smaller consulting firms
    February 23 2003
  • Ireland woos securitization
    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
    February 23 2003
  • Japanese banks defeat Tokyo taxes
    Japan’s struggling banks have been granted a temporary reprieve after winning a High Court tax case against the Tokyo city government
    February 23 2003
  • EC targets tax breaks in Belgium, Ireland and the Netherlands
    The European Commission last week decided that tax breaks in Belgium, Ireland and the Netherlands constitute state aid
    February 23 2003
  • IRS scrutinizes tax shelters
    There seems to be no escape for the big accounting firms in the US. Just after their fears were alleviated by the final wording of the Sarbanes-Oxley Act, which seemingly guarantees that they can continue providing tax services to audit clients, they face another attack. This time, the US government is cracking down on tax shelters
    February 23 2003
  • Bosnia targets tax fraud
    According to news reports, Bosnia is overhauling its customs system in the hope of finding millions of dollars of unpaid excise taxes. Paddy Ashdown, Bosnia-Herzegovina's High Commissioner, reportedly said that the county was losing KM1.4 billion ($770 million) a year to custom and tax fraud.
    February 23 2003
  • India calls for foreign exchange tax
    India's prime minister wants to introduce a tax on international currency transactions in order to protect developing economies. Atal Behari Vajpayee called for the tax after blaming currency speculators for the economic crises in Mexico, Southeast Asia, Brazil and Argentina. He reportedly claimed that it would help protect weak economies from capital volatility, enhance investor confidence through greater stability and generate developmental resources.
    February 23 2003
  • White & Case boosts Slovak tax team
    White & Case has hired two Ernst & Young tax advisers for its Slovakian tax group
    February 23 2003
  • EU drops state aid probes into tax schemes
    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
    February 16 2003
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