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  • The European Court of Justice’s decision in ICI v Colmer has forced the UK Inland Revenue to alter the rules governing group relief. Yash Rupal and Neal Todd of Linklaters & Alliance explore the new opportunities available throughout the EU
  • Deloitte Touche Tohmatsu to integrate globally, De Beers in diamond value dispute, Sweden’s finance minister resigns in tax row, Japan gives break to petrol groups
  • BMC, a software company in Houston has bought New Dimension Software, an Israeli company, for $9.6 billion. New Dimension manufactures software which manages complicated computer systems, and BMG specializes in similar software.
  • 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.)
  • Spain has become a platform for the establishment of international investments, both for foreign investors interested in investing worldwide and for purely Spanish groups.
  • Mayer Brown and Platt is advising UK-based GEC on the takeover of Reltec, a US telecoms products producer. GEC are paying $2.1 billion for Reltec, and also assuming $361 million of debt.
  • The energy tax increases contained in the new tax legislation (see International Tax Review April 1999) potentially represent more than just a rise in existing excise taxes and, in the case of electricity, the introduction of a new one. In the eyes of their proponents, they are the start of an ambitious programme of ecological tax reform.
  • On March 23 1999 the Austrian coalition. government reached political agreement on the essence of the tax reform for 2000. The following text introduces the subject and takes into account the opinion of the Federal Ministry of Finance on how to implement the political agreement.
  • The Lawmoney.com website, the daily news service that is a sister to International Tax Review, has been redesigned and improved. The quality information and news that you expect from ITR is now easily available daily on the website.
  • Beleaguered French law firm Gide Loyrette Nouel has asked its management team to step down, following the exodus of six more partners, including tax partner Philippe Derouin.