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Sullivan & Cromwell advises on eBay acquisition Sunday, 13-Oct-02 00:00:00 GMT NewsInBrief 11260 Sullivan & Cromwell has advised eBay on its acquisition of PayPal. eBay is an online auction site and PayPal a global payments platform. The deal was a stock-for-stock merger valued at around $1.5 billion. It closed on October 3. The Sullivan & Cromwell tax lawyers working on the deal included Bill Indoe and Melanie Fitzpatrick.

Tax managers must broaden their skills and develop cross-functional management skills and effective leadership behaviour.

Meetings of the European economics and finance ministers last week failed to find a solution to the exchange of information problems threatening to kill the EC’s savings directive and tax reform package.

Freshfields advises on £3.5 billion restructuring Sunday, 13-Oct-02 00:00:00 GMT NewsInBrief 11259 Freshfields Bruckhaus Deringer is advising Telewest Communications on its £3.5 billion ($5.46 billion) debt-for-equity restructuring.

Singapore and Mongolia sign double tax agreement Sunday, 13-Oct-02 00:00:00 GMT NewsInBrief 11262 Singapore and Mongolia have signed an agreement for the avoidance of double taxation and the prevention of income tax evasion. Lee Hsien Loong, the Singaporean deputy Prime Minister and Minister for Finance signed on behalf of Singapore while HE Chultem Ulaan, the minister for finance and economy signed on behalf of Mongolia.

Cleary Gottlieb advises on News Corp acquisition Sunday, 13-Oct-02 00:00:00 GMT NewsInBrief 11258 Cleary Gottlieb Steen & Hamilton has advised Vivendi Universal and Group Canal+ on the acquisition of their Italian pay-TV business Telepiù by News Corporation and Telecom Italia. The deal is worth €920 million ($907.1 million) including assumed debt of up to €450 million and a cash payment of €470 million.

Linklaters advises on telecoms deal Sunday, 13-Oct-02 00:00:00 GMT NewsInBrief 11257 Linklaters has advised Swedish telecom company Telia on its ($7.2 billion) acquisition of Finnish rival Sonera Oyj. The deal was announced six months ago but was held up by Finnish takeover law. The two companies only announced on October1 that they were ready to finalize the transaction.

Reference for a preliminary ruling from the Verwaltungsgerichtshof – Interpretation of Article 17 of Sixth Council Directive 77/388/EC of 17 May 1977 on the harmonisation of member state laws relating to turnover taxes – Common system of value added tax: uniform basis of assessment – National legislation under which the own consumption resulting from the use in the member state concerned of vehicles leased in another member state is subject to VAT where the undertaking is entitled, in the member state of the lessor, to deduct the input tax paid.

Sixth VAT Directive – Article 13B(b) – Exempt supplies – Leasing and letting of immovable property – Installation of cigarette machines in public houses.

Failure by a member state to fulfil its obligations – Sixth VAT Directive – Article 12(3)(a) and (b) – Supply of natural gas and electricity – Reduced tariff – Fixed charge for connection to the supply network (standing charge).