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A special report by Eliete Ribeiro and Diogo Ruiz, KPMG São Paulo, Brazil

KPMG Alcaraz Cabrera Vazquez

A special report by Robert Bowne, Mauricio Hurtado and Marie Claude Jean PricewaterhouseCoopers, Mexico

A special report by Oliver Wehnert and Susann van der Ham, Ernst & Young, Düsseldorf

A special report by Kapil Marwaha, KPMG, Mumbai

Olson becomes first female treasury assistant for tax policy Sunday, 6-Oct-02 00:00:00 GMT NewsInBrief 11190 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.

PricewaterhouseCoopers has closed the sale of its consulting business to IBM. The sale was completed on October 2 after being approved by the PricewaterhouseCoopers member firms and partners globally and receiving all regulatory clearances. IBM paid approximately $3.5 billion for the business, which had previously been considered for an IPO under the name "Monday".

Italian Prime Minister Silvio Berlusconi tried to please everyone with his draft budget announced last week. But despite its intention to trim the state deficit and promise of more than €7 billion in tax cuts, tax advisers claim it will do little for big business.

Terumo wins Vascutek for $170 million Sunday, 6-Oct-02 00:00:00 GMT NewsInBrief 11212 Japanese medical device company is acquiring Vascutek vascular grafts business from Centerpulse for $170 million. The deal was announced on October 4 and is due to close in November. Terumo is expanding its cardio vascular departments including catheter systems for vascular diagnosis and treatment and artificial pulmonary systems. Its acquisition of Vascutek will been used to develop treatments for conditions including aneurysms.

Swiss firm Pestalozzi Lachenal Patry has expanded its tax practice by hiring a former Andersen partner. Maja Bauer-Balmelli is joining the firm in Zurich on November 1 after more than 17 years at Andersen.