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The Andersen network has continued to disintegrate this month with offices across the world joining rival firms. Deloitte and Touche and Ernst & Young appear to be the big winners so far, with KPMG, who originally set out to acquire the entire Andersen network outside the US, lagging far behind. On April 4 Deloitte & Touche signed a memorandum of understanding with Andersen in the US to acquire a ?significant' number of its US tax staff.

Potentially sweeping reforms, political tensions and aggressive revenue authorities all feature on the Nordic tax scene. However, as International Tax Review discovers, there are also plenty of benefits for business

The introduction of the consolidated tax return system is the most significant change to come out of the 2002 tax reform. Other changes are described below. The tax base has been expanded on account of the anticipated reduction in tax revenues caused by the implementation of the consolidated tax return system.

In the second instalment of this two-part article, Jan Muyldermans, Kurt De Haen and Wim Eynatten of PricewaterhouseCoopers, Brussels, explain Belgium’s recently issued guidelines on participation exemption

More and more US multinationals are performing corporate inversions to establish parent companies in tax havens and thus reduce the amount of US tax payable. However, as Keith Martin and Samuel R Kwon of Chadbourne & Parke LLP, Washington, warn, the days of the corporate inversion may well be numbered

Excitement is mounting for foreign participation in China’s post-WTO fund management market. However, careful tax planning is essential. Matthew Wong of PricewaterhouseCoopers, Shanghai, reports

UK corporate tax reform and the changes brought about by last month’s Budget will have a major impact on M&A transactions. Gary Richards of Weil, Gotshal & Manges, London, outlines some of the key issues

The Singapore government's proposed tax reform package has met with approval from tax advisers who believe that it will go some way towards boosting the country's ailing economy and increasing foreign investment. The Economic Review Committee (ERC), which was set up by the government in December 2001, announced a series of proposed changes on April 11 this year. The government will announce whether it intends to adopt these proposals, which are part of the report called Restructuring the Tax system for Growth and Job Creation, on May 3 when the budget is delivered.

Allen & Overy has poached a Haarmann Hemmelrath partner to set up a tax practice in Germany and increased its tax partnership in Paris. Eugen Bogenschütz is joining the Frankfurt office as head of German tax. Bogenschütz, who was a partner at Haarmann Hemmelrath for eight years, and previously worked at Price Waterhouse, concentrates on cross-border M&A transactions and restructurings. Allen & Overy approached Bogenschütz over six months ago with the offer, at a time when he was not actively seeking to leave Haarmann Hemmelrath, and he was tempted by the opportunity of building a tax practice from scratch as well as the firm's international reach. He explained:

In a departure from the trend for the big four professional services firms poaching lawyers for their tax groups, Baker & McKenzie has won a tax partner from KPMG in Los Angeles. Michael Lebovitz joined the Palo Alto office on May 1 but will work with his existing Southern California client base for three days a week. He will be instrumental in helping Baker & McKenzie increase its South California work. Lebovitz specializes in business and tax planning in connection with cross-border investment to and from the US and other countries. While at KPMG he spent some time as the national partner in charge of international tax services for its information, communication and entertainment practice and its healthcare and life sciences practice.