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On October 2002 the Norwegian Supreme Court made a decision regarding Amoco Norway and its right to deduct insurance premium paid to an intra-group insurance company, Northern Resources Assurance (Northern).

A new circular, issued by the State Administration of Taxation and effective from January 1 2003, clarifies the application of enterprise income tax (EIT) and business tax (BT) in relation to the provision of services by a holding company to its investee companies. In particular, the circular provides that the service fee charged by the holding company may be determined by contract and be based on the particular criteria set out in the contract; and by allocating fees calculated on the actual expenses incurred by the holding company.

Michiel Sunderman of Freshfields Bruckhaus Deringer reveals how recent cases and legislation have improved the participation exemption regime in the Netherlands, particularly as it applies to options

Proposed revisions to the Commentaries to Article V of the OECD Model Treaty could increase the risk of double taxation for service providers whose employees spend significant time on the client's premises.

At the end of the financial year, value-added tax is likely to be on tax directors' minds around the clock. In the process of preparing the annual return, several VAT items are to be examined, the last quarterly declaration has to be drawn up and possibly provisions formed. These tasks require a series of steps, which in practice often are not considered or not dealt with systematically. Among others, the last quarter VAT return includes the following steps:

After years of squabbling, the EU has managed to agree on new rules on the taxation of the savings of EU residents invested abroad. On January 21, just a month after its self-imposed deadline for resolving the problem, the EU finance ministers under the new Greek presidency came up with a face-saving solution.

President George W Bush has proposed legislation abolishing tax on dividends. The legislation would remove the double taxation which dividends face today and make equity financing more attractive to companies. He faces a struggle to get the package passed as both Republicans and Democrats have problems with the $364 billion cost and the distribution.

From January 1 this year the supply of certain goods and services in Ireland has been raised to 13.5% from a previous rate of 12.5%. The goods include fuels such as electricity and oil as well as immovable goods and printed matter. Affected services include the provision of hotel and guesthouse accommodation, restaurants, cinema and theatre tickets and sports facilities.

Telecoms company Cable & Wireless has ploughed £1.5 billion ($2.4 billion) of its diminishing £2.2 billion cash reserves into an escrow account. The money will be used to cover a potential tax liability that may come from the 1999 sale of mobile phone company One2One to Deutsche Telekom.

A joint Bill proposed by a Republican and a Democrat Congressman sets out to extend the ban on new and discriminatory taxes on the internet indefinitely. Senator Ron Wyden and Representative Christopher Cox introduced the Bill, which would permanently extend their internet tax non-discrimination act due to expire this November.