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Cooley Godward has recruited an international tax specialist as the US firm looks to strengthen its cross-border practice. Mark Hrenya joins Cooley's Denver office as a partner from US rival Holme Roberts & Owen, having served as chair of its international group. Hrenya advises technology clients on the federal income tax implications of cross-border M&A, the structuring of their international operations, including foreign currency transactions, earnings repatriations, transfer pricing matters and the use of income tax treaties.

2-4 years pqe Don't miss this opportunity to join a premier US/UK tax team. Broad role, open culture and an opportunity to stand out. (£US rates)

The Swiss finance minister is considering a tax amnesty that would encourage private investors to reveal any undeclared assets in Swiss bank accounts. The Federal Council has opposed such an amnesty in the past, but the finance ministry now believes it could be worthwhile. Considerable sums are thought to lie hidden untaxed in Swiss accounts.

US financial services companies are lobbying the US government for permanent tax breaks on profits earned abroad. Temporary provisions giving a tax deferral on foreign earned profits are due to expire this year. Estimates of the cost of the tax breaks to the government range from $800 million to $1.4 billion a year, with these figures expected to rise to as much as $10 billion a year by 2011.

Malaysian prime minister Mahathir Mohamad has called for a new international tax on rich countries. This follows calls for a levy on capital repatriations from developing countries by Indian prime minister Atal Behari Vajpayee last month. At the Bo'ao Asian Forum in China this week, Mohamad suggested the UN could administer the tax, and use the revenue to fund development programmes in poor countries. Since part of the wealth of the rich countries comes from the exploitation of the resources of the poor, it is only fitting that they return some of it to the poor, he said.

Ireland became the first member of the EU to be formally told to correct its budget on February 12 2001. At an ECOFIN meeting in Brussels, the EU recommended that Ireland take action to correct its budget, on the grounds that it goes against the Broad Economic Policy Guidelines agreed to by EU members, and threatens to increase inflation. The warning is a response to Irish Finance Minister Charlie McCreevy's 2001 budget that announced tax cuts and increased public spending.

The OECD has released 11 reports and technical papers detailing conclusions and recommendations made by the OECD's Committee on Fiscal Affairs.

You may not be familiar with the name SGI, but at some point you will probably have seen one of its products.

M&A activity in Japan continued at a healthy pace in 2000. Now, the government is planning to further facilitate the transaction process with favourable new tax developments. By Dean Yoost, Takuro Tagai and Al Zencak of PricewaterhouseCoopers in Tokyo

Several options exist to calculate the taxes on a transfer of shares issued by a Mexican entity. As a general rule, and with almost no exception, any transfer involving a Mexican entity is a taxable transaction under Mexican law. Four different possibilities exist to determine the taxes on a transaction involving a transfer of shares in Mexico. They are: