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  • The US House of Representatives has passed legislation giving IT tax breaks to businesses
  • The US Securities and Exchange Commission has appointed Carol Stacey as the regulator's chief accountant of the Division of Corporation Finance.
  • Silicon Valley firm Fenwick & West is losing four senior members of its tax practice to McDermott, Will & Emery in Silicon Valley
  • Failure by a member state to fulfil its obligations – Sixth VAT Directive, Articles 2 and 28(3)(b) and point 2 of Annex F – Act of Accession of the Republic of Finland – Exemption for the services supplied by authors, artists and performers of works of art – Derogating provisions.
  • The likelihood of consumption taxes in Hong Kong has increased following a government advisory committee recommending the adoption of a Goods and Services Tax
  • The Australian tax authority has warned investors it will not allow interest on linked bond products to be treated as tax deductible
  • The European Commission has begun formal investigation proceedings into Belgian and Italian schemes that the authority believes to be incompatible with EU state aid rules.
  • A number of tax havens signing up to the OECD’s initiative on harmful practices have warned that their commitments are conditional on the group of rich nations tackling their own onshore tax havens
  • Singapore should amend its tax regime to make the island state more regionally competitive, according to the chief executive of Singtel
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