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  • The International Monetary Fund (IMF) has urged France against considering tax cuts until public spending is under control
  • Clifford Chance has advised the online bank Egg on the securitization of its credit card receiva
  • The UK pre-budget report has been set for Wednesday November 27
  • South Africa approves tax law changes Sunday, 17-Nov-02 00:00:00 GMT NewsInBrief 11497 The South African national assembly in Cape Town has approved draft legislation seeking to amend several South African tax laws. According to reports in the South African press the Revenue Laws Amendment Bill deals with corporate reorganizations, foreign currency rules and issues for individuals and aims at clarifying the previous legislation and closing loopholes.
  • Professional services firm Ernst & Young is to restructure its French and German tax desks in London
  • US businesses hoping to see tax reform after republican gains in the US mid-term congressional elections may be disappointed
  • Davis Polk & Wardwell and Sidley Austin Brown and Wood have advised on the common stock public offering by Aon Corporation
  • Hong Kong considers tax options Sunday, 17-Nov-02 00:00:00 GMT NewsInBrief 11498 According to press reports, Hong Kong is considering tax reform and canvassing ideas for the 2003/4 budget to stem falling government revenues. Reports in the Hong Kong Standard predict tax increases including increasing the profits tax.
  • Malaysia traders have been told to pay the government the service tax they collect from customers as quickly as possible or face action by the country’s tax department
  • The International Accounting Standards Board (IASB) has proposed that companies should account for share-based payment transactions, including employee’s share options as an expense