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  • India's Associated Chambers of Commerce and Industry has called on the government to exempt software exports from a new transfer-pricing regime that could harm the international competitiveness of domestic companies by destroying the advantages of special tax concessions.
  • National provisions on reduced VAT rates – Sixth VAT Directive – Concept of liberal profession – Reference for a preliminary ruling – Lack of jurisdiction of Court.
  • Two reforms to Japanese business law will take effect in April, which could lead to an increase in M&A activity.
  • Representatives of Taiwan and the Netherlands have reached an agreement that will free Dutch and Taiwanese companies from double taxation on profits arising from investment between the two countries
  • Vietnam has changed its tax rules for foreign companies operating in the country to attract more investment. Overseas companies will be able to pay taxes in the local currency rather than foreign currency, and companies that reinvest their profits into local projects for three years will be given a partial or full tax reimbursement. The changes are an attempt to address the bureaucratic tax system in Vietnam, which has discouraged foreign investors.
  • UK banks could face a windfall tax on their excess profits if they are found guilty of uncompetitive practices. The UK's Competition Commission suggested the measure in a statement earlier this week. The watchdog, which believes the banks may be operating a complex monopoly to overcharge small businesses for bank services, will make a final ruling in June.
  • Former US Treasury official Karen Gilbreath has joined Ernst & Young in Washington DC as deputy director of the firm's M&A group in the national tax practice.
  • Weil, Gotshal & Manges has hired a corporate tax partner from UK rival Barlow Lyde & Gilbert to head the US firm's London tax team. Gary Richards, a former PricewaterhouseCoopers tax partner, specializes in tax-efficient structures, the structuring of business combinations and spin-offs, innovative funding techniques, and remuneration and compensation packages.
  • Republican congressmen in the US are pushing for a reduction in the tax levied by the Securities and Exchange Commission on all shares traded in the country. The tax, which is one three hundredth of one percent, raised $2.27 billion in the fiscal year 2000. The tax was enacted in 1934 to provide funding for the Commission, but in recent years the revenue collected has exceeded the watchdog's budget, provoking the initiative from Republicans.
  • 2-5 years pqe A number of opportunities exist at a variety of US firms for top London tax lawyers. The quality of work, career progression opportunities and remuneration will not disappoint. (to £120,000)