Search results for

Asia Pacific Regional Office

New Zealand firm Chapman Tripp has lured a KPMG tax partner to head its Auckland tax practice. Craig Elliffe joined the firm in early April after leaving KPMG at the end of March. Chapman Tripp approached Elliffe and he made the decision to join in February. According to Elliffe, the decision to move was prompted by the fall-out of the Enron scandal on the work of tax advisers in big four firms. He explained: ?I was very happy at KPMG so there was no sense of dissatisfaction. However, I was concerned about the effect of Andersen's fall-out on the accounting profession and the trend towards independent advice.

Eversheds has secured Gary Telford, formerly a tax partner in Ernst & Young's UK global employee solutions practice, as a tax director. In his new role, Telford will be focusing on three major areas with the primary objective of developing new business. With Ernst & Young, Telford worked with clients ranging from owner-managed businesses to major listed and global companies.

This year's Asia survey finds PricewaterhouseCoopers holding on to its premier position in the region. Law firms, in the meantime, are failing to forge ahead. Georgina Stanley investigates what's new, and what clients are looking for

In 1999, Congress directed the Internal Revenue Service (IRS) to conduct a study of compliance with the documentation requirements of Internal Revenue Code (IRC) section 6662. The IRS recently released a report detailing its findings.

The draft amendments to the Tax Code have passed two readings in the State Duma (the lower chamber of the Russian parliament). The amendments include a broad list of changes in taxation, most of which are technical in nature and intended to eliminate ambiguities in recently introduced chapters of the Tax Code. Nonetheless, some of the proposed amendments may have a substantial impact on the taxation of foreign investors in Russia. The most important amendments are summarized below.

The Spanish government has initiated a process to partially reform personal income tax by commissioning a committee of experts, chaired by Professor Manuel Lagares, to prepare a report on the fundamental aspects of the tax and then draft a bill. The bill has been sent to the Spanish lower house.

As a consequence of the 2002 comprehensive Mexican tax reform approved by Congress, the Mexican Income Tax Law now considers that when a Mexican tax resident entity ceases to be a Mexican resident under the rules established in the Mexican Federal Tax Code (ie when it changes its tax residence to a country other than Mexico), it will be deemed to be liquidated for Mexican tax purposes. The purpose of this change is to avoid the transfer of Mexican taxable income to a foreign country, as such a transaction is detrimental to the Mexican Treasury Department.

Cross-border reorganizations rank among the most complex tax planning transactions. Two recent changes in German tax law open up new possibilities for accomplishing certain cross-border reorganizations without realization of gain.

UK Inland Revenue may seek to recover tax credits from non-resident shareholders