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  • SJ Berwin & Co has opened an office in Paris, hiring George Pinkham and Sylvie Vansteenkiste from Salans Hertzfeld & Heilbronn. Pinkham specializes in private equity work, while Vansteenkiste is a tax lawyer.
  • The Securities and Exchange Commission has adopted rules forcing mutual funds to disclose standardized after-tax returns to help investors understand the scope of tax costs and compare the impact of different taxes on different funds. The commission's decision to adopt these rules follows last year's Mutual Fund Tax Awareness Act, aimed at enhancing information mutual fund shareholders receive about after-tax returns.
  • McDermott, Will & Emery has appointed Michael Fayhee as the new chair of the US firm's tax practice. Previous tax head Alan Olson becomes firm-wide vice-chair and head of the Chicago office. The tax group includes practice areas focusing on M&A, corporate restructuring, structured finance and tax appeals.
  • VAT – Sixth Directive – Exemptions – ‘The leasing or letting of immovable property’ – Meaning.
  • Corporate partners in Germany are readying themselves for an increase in private equity and M&A work as changes in tax law and the country's new takeover rules promise deals in abundance
  • KPMG has relaunched the initial public offering of its consultancy business. The professional services firm delayed its original offering last year because of turbulent market conditions, but now aims to raise $2.5 billion from its offer. The offering follows recent announcements by the US Securities and Exchange Commission indicating its disquiet about accountancy firms offering consultancy services to audit clients.
  • PricewaterhouseCoopers has revealed plans to cut 10% of the firm's 1,100 UK partners, but has refuted claims that it is reacting to economic uncertainty
  • Directive 69/335/EEC – Indirect taxes on the raising of capital – Minimum tax on capital companies.
  • 3-5 years pqe Top ranking US practice seeks an UK tax lawyer for their established London office. You will work with a highly rated partner on a variety of M&A, capital markets and finance matters. If your have top city experience and good academics and want a virtual "green field" role, speak to us now. (£Mid-Atlantic rates)
  • Raising of capital – Council Directive 69/335/EEC – Capital duty – Interest-free loan voluntarily granted by a member – Profit and loss transfer agreement.