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Simpson Thacher & Bartlett is advising Bermuda telecoms company Global Crossing on it's acquisition of Global Marine.

Until recently, Ireland would not have been considered a favourable location for a holding company. This was because relatively high rates of tax were imposed on dividend income and capital gains, and because credit relief for foreign taxes suffered was quite limited. Since the enactment of its new corporate tax regime, a reduction in the rate of capital gains tax and amendments to the rules concerning credit relief for foreign taxes, however, the opportunities for using Ireland as a holding company location merits serious reconsideration by corporate treasurers when planning their international group structures.

Over the next two months, International Tax Review will publish a series of features examining CFC regimes around the world. Recent years have seen a rapid expansion of the scope of such regimes. Oliver Ralph reports on how multinationals are beginning to fight back

The Austrian government has put forward draft legislation setting out a Sch32.5 billion ($2.5 billion) package of tax cuts.

Australia’s CFC regime has not escaped the recent review of business taxation. Alastair Macphee of Mallesons Stephen Jaques, Melbourne looks at the proposals and examines how group consolidation could cause problems for companies with CFCs

KPMG has announced its intention to move into the UK legal market by poaching six partners from London law firm Arnheim Tite & Lewis.

Two former colleagues from Baker & McKenzie will find themselves competing for business after being recruited into big five firms. Phil Morrison, a tax partner from Baker & McKenzie in Washington, has joined Deloitte & Touche as leader of the International Tax Group of the Washington National Tax Practice.

Brobeck Phleger & Harrison advised Rhythms NetConnections Inc, a US Internet connection provider, on its offerings of shares and debt.

New York law firm Davis Polk & Wardwell is advising RJR Nabisco and RJR Nabisco Holdings on the cash tender offers and consent solicitations for approximately $4.4 billion of RJR Nabisco's outstanding debt. RJR Nabisco Holdings' Capital Trust is also offering $373.8 million of 9.5% trust originated securities.

Ireland risks the animosity of its EU partners by adopting a policy of low tax rates for trading companies. But does this make it a tax haven or just a fair competitor for international business? Rosie Murray-West talks to both sides in what promises to be a heated debate