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Big five firm KPMG has formed a strategic tax alliance with Morrison & Foerster, a US West Coast law firm. This is the first time that a big law firm has formed a relationship with a big five accounting firm in the US

Russia considers tax on money transfers, United Parcel Service may appeal on tax judgement, Brazil scraps banking tax

After years of exclusively providing tax advice, Netherlands firm Loyens & Volkmaars has decided to expand its practice. Taking advantage of the closure of general practice firm Loeff Claeys Verbeke, Loyens has recruited 26 partners in Rotterdam and the Hague. Their areas of speciality include corporate, labour, banking and real estate.

The American Bar Association has rejected plans to allow lawyers to practise in multidisciplinary partnerships. A meeting of the policymaking body, the House of Delegates, voted by 304-98 to replace a report that would have eased restrictions on MDPs.

The period during which nonresidents can request the refund of excess taxes paid has traditionally been a controversial matter in Spain.

On June 25 1999, a working committee in the Netherlands published a report entitled Business Taxation in the 21st Century. The committee was composed of representatives of the Ministries of Economic Affairs, Agriculture and Finance, and employer unions and trade associations. They made a number of recommendations concerning the tax laws, some of which expanded upon legislation and others which proposed stricter limitations. The most significant of these recommendations are those that affect entities such as NVs (public limited companies) and BVs (private limited companies).

Indian Companies exporting software enjoy several tax incentives / deductions. Foreign companies investing in India should be aware that there are several provisions relating to software exports in the Indian Income Tax Act (ITA) that are inconsistent with each other. This article attempts to highlight these provisions so that an investor can better plan his Indian operations. There are three major tax provisions in the ITA relating to software exports:

Pity Hungarian tax debtors this summer. Whatever summer holidays they might have planned, they may find themselves unable to leave the country.

UK companies will be able to take account of certain future losses when calculating taxable profits, following an unexpected climbdown by the Inland Revenue on two landmark cases.

Australia signed a Double Tax Agreement (DTA) with South Africa on July 1 1999 and a Protocol amending the Malaysian DTA on August 2 1999. The DTAs are not yet in force.