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France promises more tax cuts

French president Jacques Chirac has reportedly promised to continue cutting income tax and social security charges even though growth is lower than predicted. According to the Reuters news service Chirac promised the cuts in his New Year's address to the French National Assembly and Senate. Chirac's centre-right government won a parliamentary majority in June last year and the president promised to reduce taxes by 30% over his five-year term in office.

January 12 2003

Jones Day grabs tax partner

Jones Day Reavis & Pogue in Paris has hired a tax and real estate partner from big four firm HSD Ernst & Young

January 12 2003

Herbert Smith advises on publishing sale

Herbert Smith has advised SMG on its agreement to buy the publishing arm of Gannett UK. The deal is worth £216 million ($345 million) in cash. US media company Gannett publishes USA Today. Neil Warriner of Herbert Smith in London advised SMG on tax matters. Freshfields Bruckhaus Deringer advised Gannett UK.

January 12 2003

New Bill extends internet tax ban

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

January 12 2003

European accounting body elects new president

The Fédération des Experts Comptables Européens (FEE) has appointed David Devlin as its new president

January 12 2003

Russia abolishes exchange tax

Russian President Vladimir Putin has abolished a 1% tax on the purchase of foreign currency. The law became effective on January 1 and was introduced because the tax raised little revenue and had also allowed cowboy exchange outlets to benefit while bigger banks were forced to hand over the tax. Proceeds in 2002 came to only R3 billion ($100 million).

January 12 2003

General Motors transfer pricing specialist joins EY

Julian Robertson-Kellie has joined Ernst & Young in London as a director in the international transfer pricing and tax-effective supply chain management group

January 12 2003

Venezuela opposition calls for tax uprising

Venezuela's opposition party last week held a tax protest march in Caracas. The country has been crippled by an opposition led general strike for the last six weeks. Opposition leaders are now asking individuals and companies alike to refuse to pay taxes including income and value-added tax. President Hugo Chavez has condemned this action as illegal and threatened offenders with jail terms.

January 12 2003

Ireland raises VAT

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.

January 12 2003

Bush tax reform faces uphill struggle

Despite its public aim to boost investment and strengthen the US economy, companies may not be able to benefit from President George W Bush’s tax reform proposals announced last week

January 12 2003

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