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  • Latham & Watkins and Stibbe Paris have combined, effective October 1, giving the firm 95 lawyers in Paris and more than 200 attorneys throughout Europe. The combined firm will be known as Latham & Watkins.
  • Under the Mexican Federal Fiscal Code (MFFC), in the case of a merger or spin-off, the transfer of ownership of stock or goods is considered a taxable event, unless certain requirements are met.
  • International Tax Review, in association with KPMG, hosted its first Transfer Pricing Forum in Amsterdam on September 10 and 11. On the table for discussion were topics such as intangibles and intellectual property, e-commerce, APAs and dispute resolution, OECD and national developments, and practical transfer pricing strategies. The speaker line-up incorporated representation from in-house tax groups, professional advisory firms and law firms as well as the OECD.
  • Creating a split among the US courts of appeal, the Ninth Circuit, in Boeing Co v US, validated Treasury Regulations section 1.861-8(e)(3) when it held that total research and development (R&D) costs must be allocated against export sales in computing the combined taxable income (CTI) of a FSC or DISC. The Boeing decision means that the appeals courts have now ruled once in favour of, and once against, taxpayers with regard to the proper allocation of R&D on unsuccessful or unexported products.
  • The Spanish government is cutting a tax on third-generation (3G) mobile phone operators by 62.5%, in response to industry lobbying
  • Colin Masters has left his senior role at Coutts & Co to head a new Ernst & Young team, which will target entrepreneurial business with a variety of tax planning services
  • The Israeli government is scrapping capital gains tax on foreign investments in local venture capital funds, following concerns about the disincentive that the former double taxation system created
  • Investors are to benefit from a more liberalized Latin American energy market after regulators signed a pact guaranteeing equal treatment for both foreign and local companies
  • The Chinese government is to levy environmental taxes and encourage private and overseas investment in environmental projects, according to a senior official at the State Environmental Protection Administration
  • 0-2 years pqe Retrain in tax. Gain corporate and business tax experience as a key member of a small and friendly team. Significant tax experience not necessary. Big 5 accountancy firms candidates with LLB welcome. (to £53,000) Ref: LM13872.A Contact: Simone Templeton, Garfield Robbins