ITR Search | International Tax Review

Heavier penalties for tax evasion

During the last week of September, two prosecution cases on tax evasion were heard in the courts. It is rare that the Hong Kong Inland Revenue Department (IRD) brings two cases almost simultaneously to the court for prosecution.

November 01 2002

AOL's UK VAT relief under threat

A High Court decision raises doubt over AOL's relief from VAT in the UK, which the internet service provider (ISP) received in March from the Customs & Excise Commission. The March decision exempts non-European ISPs from VAT in the UK, providing they mainly supply content, not telecommunications. Freeserve estimates that Treasury has lost £100 million ($157 million) as a result and plans to continue its campaign against what it sees as unfair competition.

November 01 2002

Paris hosts Transfer Pricing Forum 2002

Attracting delegates from over 50 multinationals and 24 countries, Paris’ Opera district was brimming with a very select group of tourists in late September when International Tax Review, together with sponsors KPMG, held its second annual transfer pricing forum. Georgina Stanley reports on the action

November 01 2002

How Germany will fulfil election promises on tax

Germany's new government wants to change the country's much-criticized tax regime. Dieter Endres and Andrew Miles of PricewaterhouseCoopers, Frankfurt look at what taxpayers and investors should expect and explain why there are reasons to be optimistic

November 01 2002

Brazilian companies hit as CPMF continues

Companies operating in Brazil have lost their battle to have a 90-day respite from the CPMF (provisory contribution on financial operations) transaction tax. The Supreme Court decided against taxpayers' claims that the cumulative tax of 0.38% on all financial transactions should not be charged for a 90-day period starting from mid-September. The decision means that companies which have failed to pay must now do so while others will not have money returned.

November 01 2002

EC upset by French budget with tax cuts

European Commissioner Pedro Solbes has expressed his concern at France's 2003 budget, which he believes will prevent the country from reaching a balanced budget position by 2006. The budget includes proposals to cut income tax by 1% and there is speculation that the French government plans to cut corporate tax rates in the future.

November 01 2002

Non-US firms may escape SEC oversight

Foreign audit firms were offered hope in October when Harvey Pitt, the chairman of the SEC, said that the organization might exempt non-US accounting firms from supervision by the US accountancy regulator. The news was mentioned in a speech at the conference of the Institute of Chartered Accountants of England and Wales (ICAEW) in Brussels as well as at a conference in London a few days earlier.

November 01 2002

KPMG loses 15-lawyer team in South Africa

KPMG has been hit by the loss of 15 tax lawyers in South Africa to local law firm Sonnenberg Hoffmann Galombik.

November 01 2002

NautaDutilh opens office in Luxembourg

Dutch firm NautaDutilh is opening an office in Luxembourg at the beginning of November.

November 01 2002

Latham & Watkins poaches Mayer, Brown, Rowe & Maw tax litigator

Kim Marie Boylan has joined Latham & Watkins as a partner from the Washington office of Mayer, Brown, Rowe & Maw. Boylan focuses on tax and accounting policy issues as well as general tax litigation work.

November 01 2002

Search results for