Search results for

Ernst & Young failed to suspend a disciplinary investigation into its audit of insurance company Equitable Life. The High Court overruled Ernst & Young's claim that an inquiry would compromise its position in civil proceedings brought against it by Equitable. Ernst & Young has staunchly defended its 1999 audit of Equitable that led to the company suing the professional services firm as well as company directors on behalf of its policy holders.

Pamela Olson has been sworn-in as US treasury assistant for tax policy. Treasury secretary Paul O'Neill swore-in Olson on September 26 this year. Olson has supervisory responsibility for providing the treasury secretary with policy analysis, advice and recommendations relating to all aspects of domestic and international issues of federal taxation including legislative proposals, regulatory guidance and tax treaties. She will also deal with official estimates of government receipts for the president's budget, fiscal policy decisions and treasury cash management decisions.

Marc de Bruijn: wanted the challenge of leading a group SchutGrosheide, the Dutch law firm and member of UK firm DLA's European alliance, D&P, has boosted its tax department with the appointment of three tax specialists.

The European Court of Justice (ECJ) Advocates General (AG) recently concluded in two separate cases that certain Dutch corporate income tax rules and the German thin capitalization rules conflict with the freedom of establishment principle in article 43 of the EC treaty.

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.

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.

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

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

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.

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.