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Companies resident in Ireland are no longer automatically excluded from the UK's controlled foreign companies (CFC) charge for accounting periods beginning after October 10 2002. This affects UK companies that rely on Ireland featuring on the UK's 'excluded countries' list in order to avoid a CFC charge in relation to their interest in an Irish company.

For the first time since Spain joined the EU in 1986, the European Commission has issued a formal request to Spain to modify its individual income tax legislation.

Even though the chapters of the Tax Code covering the major taxes applicable in the Russian Federation have all recently come into force, the Russian legislature continues to make various amendments to tax legislation. Though most of these amendments are of a technical nature, some can seriously affect both foreign and domestic businesses.

A new Mexican Income Tax Law (MITL) is in effect as of January 1 2002. It includes a point that significantly changed the timing for complying with the requirements for deductions, beginning in the year 2002. This rule applies to all types of deductions, including imported raw materials or inventories, as well as to contributions to pension funds.

Frits Bolkestein, EU's internal market commissioner: Switzerland should aid its EU neighbours The implementation of the EU's savings tax project looks as far away as ever after October meetings between the Commission and the Swiss Ministry of Finance were unsuccessful. The Commission is battling to bring in the directive by the end of this year but the initiative has stalled because several member states have said that they will withdraw from the project unless third-party countries, including Switzerland, agree to equivalent measures.

The number of domestic patent applications last year reached the highest-ever figure of 439,175. The reason behind the increasing recognition of the importance of IP (intellectual property) may lie in the concerns from industry over declining competitiveness in global markets, as well as the urgent need of companies struggling to offer highly value-added goods or services to survive strong competition in the domestic market.

Many high-profile mergers have failed to live up to expectations and have eroded share value. Companies can save time and money if they ask themselves three key questions argues Jim Dillavou in Dallas of Deloitte & Touche

Deloitte snares Alberto Terol Sunday, 27-Oct-02 00:00:00 GMT NewsInBrief 11350 Alberto Terol has joined Deloitte Touche Tohmatsu as deputy global managing partner, tax and legal. Terol was previously the area managing partner for western Europe at Andersen and had also been the managing partner of tax, legal and business advisory services at the firm.

UK firm Lovells is advising Corus on the proposed sale of its aluminium business

German company Siemens Corporation has sold seven businesses worldwide to private equity firm Kohlberg Kravis Roberts & Co (KKR).