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As stock option plans become an increasingly popular means of remuneration, tax authorities have responded by lightening the rules that govern them. Sven Tischendorf and a team from the Conference of European Lawyers discuss the opportunities available

Watkins leaves tax boutique behind Canadian tax lawyer Donald Watkins has joined Osler Hoskin & Harcourt in Calgary as a senior partner.

The Chairman and Deputy Chairman of KPMG in Canada have resigned following weeks of controversy involving the firm. J Spencer Lanthier and D Hugh Bessell were closely involved in negotiations that would have led to the merger of the Canadian branch of KPMG with big five rival Arthur Andersen. When the merger broke down, the two felt that they had no option but to resign.

As discussed in the previous update, the Australian government has set up a committee to report on the reform of Australia's business tax system. The reforms considered in relation to interest deductibility from an international perspective are summarized below.

On March 11 1999 the Supreme Court allowed a double deduction of expenses, once for Japanese and once for Dutch corporate income tax purposes. However, to put the case in context, it is first necessary to provide some background information on transfer pricing and explain the concept of an informal capital contribution in the Netherlands. Dutch tax law does not contain specific provisions regarding transfer pricing. Taxable profits are determined by applying the general rules detailed in Articles 7 and 9 of the Dutch Income Tax Act, and there is a wealth of case law in this respect.

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.