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  • Global Crossing, the Bermuda telecommunications company, is to acquire IPC Communications and IXnet, both of whom provide networks for the financial community.
  • The success of Computer Associates' $4 billion stock-for-stock acquisition of Sterling Software makes this the largest software deal ever.
  • The UK steel industry is worried that government plans for a climate tax in 2001 could drive foreign investment out of the country. Although the tax was first announced in March 1999, industry protests forced the UK Treasury to slash the levy from £1.75 to £1 billion in November. But energy-intensive companies are lobbying for further reductions.
  • Recent raids on law firms have shown that the big five mean business in their pursuit of the top tax talent in the US. Rufus Jones investigates the limits of big five ambitions and asks how law firms can persuade their best people to stay
  • Argentina’s anticipated financial difficulties in 2000 have led the new government to turn to the tax system as a money-spinner. Taxpayers can expect to pay a heavy price. Lilian Falcón of PriceWaterhouseCoopers, Buenos Aires reports
  • The US budget plan for 2001 was announced in February. Big tax cuts are promised, partially offset by new revenue raisers but what is the true cost for taxpayers? Hal Hicks, Dave Benson and Margaret O’Connor of Ernst & Young, Washington DC sets out the planned changes
  • Harmonisation of fiscal legislation – Council Directive 69/335/EEC – Indirect taxes on the raising of capital – Notarial charges for drawing up a document recording an increase in the capital of a capital company and an amendment of its statutes.
  • In recent years, Canada has introduced several initiatives that increase the reporting requirements facing foreign taxpayers. Generally, the objective is to facilitate Canada's monitoring of foreign transactions and ensure income is properly reported and taxed. One such requirement is for all non-resident corporations carrying on business in Canada to file income tax returns when they are relying on a treaty provision to exempt them from Canadian tax.
  • Ireland's minister for finance has published the Finance Bill. The following are some of the principle features relating to international tax.
  • Based on the France-Netherlands tax treaty, a French company was found not to have withheld tax from its royalty payments to a Dutch CV (Commanditaire Vennootschap, a type of silent partnership) whose partners were two Dutch BVs. The French tax administration argued that the treaty was not applicable because the Dutch CV is not subject to income tax, and therefore is not a resident of the Netherlands within the meaning of the tax treaty.