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  • KPMG has appointed Robert Aland as the midwest leader of the firm's Tax Controversy Services practice and a member of the firm's International Corporate Tax Services practice. Aland will be headquartered in KPMG's Chicago office. At KPMG, Aland will focus specifically on helping large multinational clients address the tax challenges inherent in today's increasingly complex tax environment. His areas of concentration at the firm will include tax controversy services and international tax matters.
  • Deloitte & Touche has made five prominent new hires across several practice groups in the US. Maurice Emmer joins Deloitte & Touche from Baker & McKenzie in Palo Alto as leader of the Global Earnings Management Initiative. This involves the discipline of cost sharing and the division of functions and risks among taxpayers to achieve an optimum tax result.
  • Tax laws on investment funds in some of Europe's most dominant economies could be in breach of European law, preventing the development of a regional market
  • Russia's lower house of parliament, the Duma, has approved the draft version of Chapter 25 (Profit Tax) of the Tax Code. As a result, Russia will probably abolish all tax incentives in favour of a significantly reduced tax rate (24%), thus simplifying its notoriously complex tax regime. According to Deloitte & Touche in Russia, the latest text of the draft suggests that companies that were previously granted certain regional tax incentives on the basis of an investment agreement may continue to apply these benefits until the agreement ends.
  • Determining the profits attributable to a PE is poorly explicated in practice. The OECD has drafted a proposal to clarify matters. By Philip R West, Andersen Office of Federal Tax Services, Washington, DC, and Robert Janukowicz and W Anne Jie, Andersen, New York
  • Foreign investors looking to use the beneficial ownership provisions of Russian tax treaties are up against a tradition of inconsistent application and poorly developed concepts. No guarantees are on offer, and the present round of tax reforms offers little hope for improvement. By Victor Matchekhin, Linklaters, Moscow
  • Belgian companies wishing to motivate their employees through participation schemes now have the backing of the new Participation Law to facilitate their efforts. By Marc De Munter, Freshfields Bruckhaus Deringer, Brussels
  • The Study Group on Corporate Income Tax published a report June 11 2001, outlining its recommendations on possible amendments to the corporate tax rules to enhance the competitiveness of the Netherlands as a place to locate companies. The study group was set up after proposed changes to the Dutch tax system (eg application of the participation exemption and the tax treatment of hybrid instruments) were withdrawn so as to examine the Corporate Income Tax Act in a broader perspective.
  • "Assess first, audit later" programme introduced