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Ernst & Young provides innovative tax planning and customized business solutions for multinationals operating in the Asia-Pacific region and throughout the world. Our Tax Practice is comprised of professionals in every area of tax including: business tax reform; corporate taxes; capital gains tax; transaction taxes (such as GST, stamp duty and customs duty); international tax; transfer pricing; expatriate taxes; financial services and capital markets; specialized tax function process consulting; global employment solutions; and tax outsourcing.

The Seychelles ambassador to Malaysia has signed an agreement with Thai foreign minister Surakiart Sathirathai to avoid double taxation between the two countries. The agreement will benefit Thai businesses involved in exporting to the Seychelles, Sathirathai said. The Seychelles is thought to be keen to attract Thai investment in its hotel industry, and is negotiating further treaties with other trading partners.

US republican senators George Allen and Conrad Burns have introduced a bill intended to make the country's present internet tax moratorium permanent. The Internet Tax Non-discrimination Act will extend the provisions of the Internet Tax Freedom Act, which prevents consumers from being taxed in multiple states on their online transactions and bars all federal taxes on electronic commerce. The present moratorium became effective on October 1 1998 and is due to expire on October 21 2001.

The Democrats have defeated a proposed US constitutional amendment that would require the support of a two-thirds majority in both houses to raise taxes

In last month’s article, the authors discussed the tricky question of what constitutes a QI and recently issued guidance by the IRS. Part two of this article answers frequently asked questions about the day-to-day application of the QI rules and addresses the need not to be complacent, By Philip Marcovici and Marnin Michaels of Baker & McKenzie’s Zurich office, Thomas O’Donnell in the Paris office and David Balaban and Peter Connors of Baker & McKenzie in New York

The tax panel of Japan's ruling Liberal Democratic Party is to introduce tax breaks for companies using the treasury stock system to buy back shares and keep them in reserve. The government removed the ban on the process earlier this month, and approved the liberalization of treasury stocks in its emergency economic package.

Clifford Chance and Freshfields Bruckhaus Deringer are to bolster their New York practices with the appointment of seven partners across a variety of practice areas at the UK firms.

Chile's finance minister has announced a package of tax reforms aimed at encouraging foreign investment and at stimulating the country's stock market