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  • China offers VAT refund for purchase of equipment manufactured domestically
    The PRC State Administration of Taxation has issued the Trial Measures for Tax Refund in Respect of Equipment Purchased by Foreign Investment Enterprises. Under the Trial Measures, a foreign investment enterprise (FIE) is eligible for a full refund of value-added tax (VAT) paid in respect of the purchase of equipment manufactured by enterprises situated in the PRC, if it has satisfied the following requirements:
    March 31 2000
  • Canada tries to stop migration
    Canada’s federal budget attempts to balance the need to reduce excessive personal and business tax rates with the desire to increase government spending. But has it gone far enough to address the issue of tax migration? By Elinore Richardson of Stikeman Elliott, Montreal
    March 31 2000
  • Indian budget attacks dividends
    Taxpayers’ worst fears of a harsh budget for the next year proved to be mostly unfounded. With the exception of a surprise doubling of the dividend distribution tax, nip and tuck seems the order of the day. By Prayaag Joshi and Ayesha Chandy of Arthur Andersen, Mumbai
    March 31 2000
  • Linklaters structures petrochemical deal
    The UK petrochemical company BP Amoco has made a $4.7 billion offer for the chemical group Burmah Castrol.
    March 31 2000
  • Fiamma joins Allen & Overy
    His move highlights a key element in the changing face of London law firms
    March 31 2000
  • Internet oldster opts for Fenwick & West
    Network Solutions, one of the old guard of the internet sector, has been bought by VeriSign in a $21 billion stock swap deal. Network Solutions provides domain name registration and management. It is one of the few internet companies that actually manages to make a profit.
    March 31 2000
  • Covington & Burling coordinates software merger
    The success of Computer Associates' $4 billion stock-for-stock acquisition of Sterling Software makes this the largest software deal ever.
    March 31 2000
  • Quintus turns to Davis Polk
    The Californian internet group Quintus Corporation is to buy the e-mail management company Mustang.com.
    March 31 2000
  • Singapore budget shows more hopeful outlook
    Finance minister Richard Hu announced a budget that drew on a more optimistic reading of the Asian economic climate. Principal changes included a reduction in the corporate tax rate from 26% to 25.5%. The two-year property tax rebate for commercial and industrial properties, announced in 1998 was extended until 2001 but at the lower rate of 25%.
    March 31 2000
  • Non-US firm first at New York State Bar
    Freshfields' New York partner Robert Scarborough has been elected chair of the tax department at the New York State Bar Association (NYSBA). It is the first time that a non-US firm has provided the association's tax section with its chairman.
    March 31 2000
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