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  • EU air fuel tax outrages industry
    European finance ministers have agreed to discuss proposals for an air fuel tax on commercial aircraft. An ECOFIN (European Economic and Financial Affairs) council meeting on March 14 listened to European Commission (EC) plans for the tax, which would levy anything from 10-245 euros per 1000 litres of aviation fuel.
    March 31 2000
  • UK updates three-way split
    The UK does not have a single thin capitalization code, but recent additions to the tax rules significantly change the regime. David Hughes of Allen & Overy, London evaluates the three techniques used by the UK to combat thin capitalization
    March 31 2000
  • Tax treaty between Sweden and China
    The Swedish government has proposed that the parliament accepts certain changes to the tax treaty between Sweden and the People's Republic of China.
    March 31 2000
  • Recent tax developments
    Advance ruling
    March 31 2000
  • Hong Kong budget steadies course but holds back surprises
    Despite widely expected changes, the financial secretary, Donald Tsang Yam-Kuen, made no significant changes to Hong Kong's tax regime. Only three measures were announced: a reduction in the stamp duty on stock transactions (from 0.25% to 0.225%), an extension of the diesel duty concessionary rate, and an extension of exemptions for electronic vehicles.
    March 31 2000
  • Intra-group trademark licensing
    An important decision by a lower German tax court (Tax Court of Rheinland-Pfalz) appeared in the professional journals in mid-1999. The decision's headnote reads as follows:
    March 31 2000
  • Clear Channel turns to Akin Gump for stock merger with SFX communications
    Out-of-home advertiser Clear Channel Communications has agreed a $4.4 billion stock merger with SFK Entertainment, a promoter, producer and venue operator for live entertainment.
    March 31 2000
  • Hogan & Hartson in French buy-out
    The French advertising group Havas has bought the US company Snyder Communications for $2.1 billion. The deal is a stock transaction, with each Snyder share valued at $29.50. This latest acquisition makes Havas the fourth-largest advertising agency in the world.
    March 31 2000
  • Simpson Thacher advises on financial network deal
    Global Crossing, the Bermuda telecommunications company, is to acquire IPC Communications and IXnet, both of whom provide networks for the financial community.
    March 31 2000
  • Slaughter acts in UK insurance deal
    CGU and Norwich Union have agreed to merge in a £20 billion ($31.4 billion) deal, forming the UK's largest insurance company. The new firm, CGNU, predicts £250 million in annualized pre-tax cost savings within 18 months of the merger's completion.
    March 31 2000
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