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Japan's plans to introduce a consolidated tax system appear to have stalled. The Ministry of Finance has announced that it is doubtful that they will be able to honour the April 2001 deadline originally set.

The new recruits bring the number of lawyers to 17 since the launch of the office in November last year (see International Tax Review Dec/Jan 2000). Three of the partners, Scott Farmer, John Magee and Richard Stark, all come from Washington DC firm, Miller & Chevalier. Farmer is head of Miller's international tax practice, whilst Magee is former chair of Miller's tax practice department and was a member of the firm's executive committee. The other partner, trial lawyer David Curtin, joins from the DC office of US firm King & Spalding, where MNE&Y co-founders, William McKee and William Nelson originate.

Before joining Clifford Chance in 1990, de Vos was with Loyens & Volkmaars, working both in Amsterdam and in Hong Kong. He describes his time in Hong Kong as "probably the best time of my life. It's a great place to be".

The issue was registered with the Securities and Exchange Commission and is therefore open to US holders of Telewest shares. In a connected move, Microsoft and the Liberty Media Group acquired 51.3% of the rights issue, thereby allowing Microsoft to take a stake in Telewest.

The new company, to be based in Montreal, will become the largest line in North America. Each CN share will be exchanged for 1.05 Burlington Northern shares.

Although Danone has paid $1.1 billion, tax cuts offered by the US tax system will bring the cost down to $870 million. McKesson Water's $380 million turnover will give Danone a 16.7% share in the bottled water market. The French company is also one of the backers behind Finalrealm, the consortium bidding for the UK group United Biscuits.

The merger will create the country's largest independent television company. Carlton shareholders will hold 52% of the new company compared with United shareholders' 48% stake. The new group expects cost savings to reach £40 million.

The following important tax developments have taken place in India.

Eugen Bogenschütz and Kelly Wright of Haarmann, Hemmelrath & Partner, Frankfurt-am-Main analyze the structure and outcome of the 1998 Daimler-Chrysler merger

Australia’s thin capitalization rules are covered in the wholesale tax reforms put forward in the Ralph Report. Peter van den Broek of Clayton Utz, Melbourne outlines the likely changes and their impact for international operations