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US law firm Wachtell, Lipton, Rosen & Katz is advising Fleet Financial on its takeover of BankBoston. The acquisition, which is valued at $16 billion will end BankBoston’s four year aggressive expansion policy.

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.

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

Director of Tax and Corporate Strategy UK

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

UK law firm Freshfields has opened an office in Amsterdam, and recruited four lawyers from major Dutch firms. Three of the lawyers are from Stibbe Simont Monahan Duhot, including tax specialist Charles Langereis. The remaining lawyer is from de Brauw Blackstone Westbroek, the Dutch Linklaters & Alliance member.

Regional and district level lawmakers have used the opportunity to grant tax exemptions as a tool to attract investment to their localities. Since 1991, when the fundamentals of the Russian tax system were first established, a wide range of local tax incentive legislation has been put in place. While the basic principle of these various pieces of legislation is similar, namely to provide investment incentives for certain types of taxpayers, the mechanisms employed are often very different in character and have grown in sophistication with practice and experience.

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

The days when the Netherlands was the location of choice for all foreign holding companies are over. As EU tax rates converge and the parent-subsidiary directive takes effect, competition for business is hotting up. Allan Cinnamon of BDO Stoy Hayward, London reports

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