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  • The first amendments have been drafted to the German Tax Reform Act concerning domestic share and derivatives trading
  • The Hong Kong revenue service is to put into effect the double taxation relief provision in the air services agreements with Denmark, Sweden and Norway. The air services agreements were signed earlier this year and contain a provision on double taxation relief on airline income and profits. A Hong Kong government spokesman said: "The double taxation relief provision provides that Hong Kong and Denmark/Sweden/Norway will provide reciprocal tax exemption for income profits and property of airlines of the other side which are derived from operating aircraft in their own area."
  • Linklaters & Alliance is preparing to tap tax-related opportunities in emerging central and eastern European markets, scooping two local partners in Prague
  • The European Commission has proposed a series of rules to harmonize and modernize value-added tax (VAT) invoicing in the EU
  • Paul, Hastings, Janofsky & Walker is bolstering its US tax practice, hiring Renee Raithel as of counsel in the firm's Orange County, California office. Raithel, formerly a partner at US rival McDermott, Will & Emery, specializes in private wealth and business succession planning, capital gains tax deferral planning, liquidity planning, and corporate structuring for private businesses.
  • Freedom of establishment – Tax legislation – Direct taxes – Deduction of business losses – Previous tax year.
  • The Cuban government will cut off phone services with the US this week if American phone companies do not begin paying a new 10 % tax by December 15. Cuban president Fidel Castro announced the surcharge in October after the US Congress approved antiterrorism legislation that would use frozen Cuban assets in the US to compensate relatives of anti-Castro exiles killed by terrorists in 1996. The Clinton administration has forbidden American carriers from paying the surcharge, which would add $0.24 a minute to all phone calls to and from Cuba. Cuba has some of the highest international calling rates in the world.
  • 1-3 years pqe Regional background welcome. No pigeon holing. Very broad range of work: corporate tax, property and employment tax. Highly regarded with great exposure to clients. (From £55,000)
  • Officials putting together the three-way merger between Vivendi, Seagram and Canal+ chose to handle most of the tax issues on the deal in-house, fearing details of the transaction might leak out if they hired outside help
  • Coudert Brothers has completed a $205million financing for the largest industrial project in Estonia