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European Tax Practice

Zurich, Switzerland

José Abascal, 45, 28003 Madrid, Spain

PricewaterhouseCoopers' tax and legal specialists help clients gain business advantage by providing multi-disciplinary and innovative solutions to their complex business issues.

Dr Matthias Bruse (Munich), partner

CMS Bureau Francis Léfèbvre is growing its US tax group and hiring a senior associate from a magic circle firm in Paris. Michel Collet is joining the firm in New York as a local partner on September 3 this year. Collet is joining BFL from Linklaters where has been a senior associate for two years. Collet specialized in mergers and acquisitions as well as structured finance at Linklaters and will continue to do so at BFL where he will work primarily for US and French companies. The main differences between his work at Linklaters and BFL will be the role he will play in developing the international practice at BFL.

The Lovells tax practice comprises 21 tax partners and 30 associates. Lovells provides a comprehensive range of international and domestic business and corporate tax planning services. The firm has its own tax capacity in the offices listed below.

Argentina is suffering a severe economic downturn. Companies operating in the country should take the opportunity to align supply chains and their tax strategy. By Manuel Solano, New York, and Daniel Rybnik, Buenos Aires, of Ernst & Young

America's accounting standards setter is considering changes to rules for stock option accounting for companies switching from one form of accounting to another. Financial Accounting Standards Board chairman Bob Herz told a meeting of the New York Society for Security Analysts on Tuesday that the standard setter was considering a number of approaches to setting rules for a transitionary accounting period to apply to the increasing number of companies choosing to book stock options as costs in their accounts.

The EU is delaying the proposed takeover of Andersen in France by rival professional services firm Ernst & Young. The European Commission's antitrust regulators are concerned about how the proposed union will affect competition in the domestic audit market. The Commission has requested that Ernst & Young re-submit its application for approval because it discovered that the firm underestimated the French market share that would be controlled by the combined firm.