ITR Search | International Tax Review

Singapore widens fiscal incentives

Singapore’s minister of finance used this year’s budget to stimulate the economy by extending tax incentives for domestic companies and foreign investors alike. Ajit Prabhu of Deloitte & Touche, Singapore examines the budget and its consequences for multinationals

May 31 1999

Jones Day gets car deal rolling

The Paris Office of Jones Day Reavis & Pogue is acting for Renault on their merger with Japanese company Nissan. The merger, which is valued at $5.4 billion, will create the fourth-biggest car maker in the world.

May 31 1999

Ernst & Young aids China Clays deal

Ernst & Young in the UK and France is advising French minerals extraction and processing plant Imetal on its acquisition of English China Clays. The deal is worth £756 million ($1.2 billion).

May 31 1999

Cravath Swaine & Moore advises GEC

General Electric Company (GEC) in the UK, is buying Fore Systems, an Internet equipment supplier-based in Pittsburgh for $4.5 billion. GEC has already agreed to sell its defence business to British Aerospace, and is now concentrating on building up its telecoms and internet capability. The acquisition follows GEC's purchase of US telecoms company Reltec.

May 31 1999

Sandoz GmbH v Finanzlandesdirektion fur Wien, Niederosterreich und Burgenland

Loan agreements – Stamp duty – Rules governing imposition – Discrimination.

May 19 1999

Non-discrimination

A recent advance ruling discussed the ambit of the non-discrimination clause in Article 26 of the Double Taxation Avoidance Agreement between India and France (DTAA). The issue was whether the applicant (a non-resident French Banking Company, operating through a branch office in India) could use lower tax rates as applicable to a domestic company (as against the higher rates applicable to a non-domestic foreign company).

April 30 1999

Indian courts limit treaty benefits

Multinationals operating in India have recently used treaties to challenge the application of different tax rates to domestic and foreign companies. Jignesh R Shah of PricewaterhouseCoopers, Mumbai analyses the court decisions and their consequences

April 30 1999

Hale & Dorr in real-estate merger

Hale & Dorr in Boston is representing real-estate firm Berkshire Realty in its merger with management group Brekshire Realty Holdings. The transaction is valued at $1.3 billion. Realty Holdings is a partnership formed by chairman Douglas Krupp, affiliates of Blackstone Real Estate Advisors and Whitehall Street Real Estate Limited Partnership XI (an affiliate of Goldman Sachs & Co.)

April 30 1999

Accounting Act and Joint Stock Companies Acts

A new Accounting Act and two Joint Stock Companies Acts were introduced with effect from January 1 1999. These may have some effect for the companies tax position, and distribution capacity.

April 30 1999

Firms expand to conquer Asia

For true regional coverage to be more than a slogan, advisers in Asia have some hard work to do. There are still many gaps in even the most extensive networks. But, as Oliver Ralph and Rosie Murray-West discover, clients want coverage that mirrors their own plans

April 30 1999

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