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  • Hong Kong's finance secretary is downplaying suggestions that the government should introduce a 3% general sales tax (GST) following a report issued this week proposing its introduction
  • The UK Treasury has revealed it is considering a windfall tax on oil companies, soon after BP announced near-record profits of £2.7 billion ($3.8 billion) for the second quarter of the year
  • Executives from 74 US companies have sent a letter to president Bush asking him to appeal the World Trade Organization's ruling that tax breaks for exporters are an illegal export subsidy.
  • Alice Lau Mak Yee-Ming, acting Commissioner for the Hong Kong Inland Revenue, has been permanently appointed to the post after months of uncertainty in the department.
  • NQ-1 yr pqe Talented UK qualified lawyer required to join this outstanding tax team of this US firm. Supporting a high calibre UK corporate team you will have the opportunity to stand out. (£US rates) Ref: LM13113.L Contact: Simone Templeton, Garfield Robbins
  • The OECD has delayed its deadline for tax havens to cooperate with its initiative against harmful tax practices until November 30
  • Billions of dollars worth of oil and gas projects in fields between Australia and East Timor have been put on hold, after it became clear that the new state's taxation plans might not tally with earlier agreements
  • Deloitte & Touche has strengthened its energy and M&A-focused tax advisory team in Poland
  • British internet service provider Freeserve has attacked a UK VAT exemption enjoyed by its American rival AOL
  • The Philippine finance ministry is pushing for the sale of asset-backed securities to be tax-free, with the country preparing for the enactment of a securitization law