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On August 22 2002, the Treasurer released a consultation paper regarding the taxation of international arrangements. This gives business a unique opportunity to have its say on one of the most important aspects of the Australian tax regime.

According to reports in The Star newspaper in Malaysia, tax collection is meeting its targets and the country will not raise its sales and services taxes. According to the report, the customs department intends to collect around M$25 billion ($6.6 billion) in tax in 2002 compared to M$18 billion in 2001. So far this year it has collected M$14 billion.

The Australian revenue minister and assistant treasurer, Helen Coonan, has described in a statement the responsibilities that the inspector general of taxation will have when appointed. She explained that her key priorities were to improve the responsiveness of the tax system to genuine concerns of taxpayers and to keep the tax system fair. She explains: ?A vital part of the government's election platform to improve the tax system is the establishment of the inspector-general of taxation as a new advocate for taxpayers and an independent adviser to government on tax administration issues.?

The Cayman Islands is not planning any change in government policy regarding foreign tax evasion activities, according to the Cayman Net News. According to the news service, the leader of the Islands' government business committee, McKeeva Bush, confirmed that the islands have always been tax neutral and no legislation has been passed to change this.

Big four firm Ernst & Young's US tax group has been hit by the continuing trend for tax lawyers to flee professional services firms and return to their legal roots. The firm has lost its deputy national director of international tax services to Mayer, Brown, Rowe & Maw. Hal Hicks joined the law firm in the first week of September after five years at Ernst & Young.

US firm Willkie Farr & Gallagher has hired a former Andersen partner for its Paris office. Marie-Hélène Raffin will join the firm as a partner in October this year. At the time of going to press, Raffin was working at Cabinet Archibald International, the present name for what was Andersen Legal in France. Andersen is in the early stages of integrating with Ernst & Young there, though a substantial number of tax professionals have joined Deloitte & Touche and other law firms.

The UK government has published proposals aimed at further reform of UK corporate tax. In the future, it seems likely that all gains and losses from capital assets will be taxed in the same way as income. By Eric Tomsett, Deloitte & Touche, London.

On August 29 2002, President Fernando Henrique Cardoso signed Provisional Measure 66/2002 introducing important changes to Brazil's tax legislation. The Provisional Measure is described by many as a "mini tax reform". Some of the changes introduced are described in this article.

Stock options as a means of offering special incentives to employees have become increasingly popular in Germany in recent years. Dr Oliver Strnad, KPMG Tax and Legal, Stuttgart, overviews the present legal position regarding the taxation of stock options in Germany.

France’s R&D tax credit regime offers substantial benefits for foreign investors. Make sure the relevant qualifying expenditure is properly documented from the outset, advise Isabelle MacInnes and Pascal D’Hont of Ernst & Young’s French Tax Desk, London.