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PricewaterhouseCoopers is the leading firm in Asia for both tax transactional and tax planning work in every jurisdiction covered by International Tax Review’s latest survey

Gary Gartner, head of Andersen’s international tax practice in New York, has quit the firm to lead a team to Torys

The future of Clifford Chance’s exclusive arrangement with Italian tax boutique Studio Vitali Romagnoli Piccardi e Associati is uncertain after 31 lawyers announced they were quitting the international firm last month

Guernsey has followed Jersey in bowing to EU pressure to start exchanging financial information

The governments of Italy and Canada have signed a new double tax treaty that will set withholding tax rates on dividend payments between the two countries to 5%

Guidance on the interpretation of the term ‘immovable property’ within the meaning of Article 13B(b) of the Sixth VAT Directive.

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.

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.

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.

The French tax authorities have issued new administrative guidelines dated April 16 2002 (8 M-2-02) in which they give up taxing real estate capital gains realized by a French partnership held by non-residents under section 244 bis A of the French Tax Code.