ITR Search | International Tax Review

Unleashing supply chain potential

In the second of his articles on the advantages available to multinationals from supply chain management, Les Secular of Ernst & Young in London reveals how organizations can create effective structures while minimizing the potential tax risks

March 01 1999

Ernst & Young compromises over one-stop shops

The Dutch Bar Association has made an agreement with Moret Ernst & Young over the ties between the accounting firm and it’s legal services arm. The agreement, which is similar to one recently signed between the bar association and KPMG, ends 12 months of negotiations between the two organizations.

March 01 1999

Eversheds in $432 million property securitization

NHP has completed one of the largest securitization issues in the UK to involve receivables from property investments. The £265 million ($432 million) fixed rate bond, issued through Care Homes No. 2 Limited, was backed by income from 103 nursing home leases.

March 01 1999

Yahoo! and Geocities look to the specialists

Leading US internet company Yahoo! is acquiring GeoCities for $4.7 billion in a pooling of interests transaction. The deal will give Yahoo! the widest reach on the internet, recovering ground recently lost to America Online and Microsoft.

March 01 1999

Russian Tax Code

Part I of the Russian Tax Code became effective on January 1 1999. It introduced a number of developments in personal income tax legislation, which will affect expatriates working in Russia as well as local staff. The main provisions are outlined below, but it should be noted that the legislation is probably more remarkable for what it did not include.

March 01 1999

The vis attractiva

The use of the so-called vis attractiva (literally power of attraction) highlights the link between the concepts of income and residence. It might be used to attribute foreign income profits to substantially Italian tax resident individuals who are formally resident abroad.

March 01 1999

Vienna-Tax Reform Commission proposes new legislation for 2000

The Austrian government is planning to reform various aspects of the Austrian tax system as of January 1 2000. The Ministry of Finance had requested the formation of a Tax Reform Commission, consisting of representatives of various public bodies, to prepare a proposal for the tax reform programme. The commission issued its report in November 1998, which covered the following issues:

March 01 1999

Linklaters in mobile phone contract

UK firm Linklaters is advising Vodafone on its $63 billion acquisition of US telecommunications company Airtouch.

March 01 1999

When it pays to talk to the taxman

Revenue authorities are keen to appear to be as open as possible and to consult business when preparing major legislation. But how beneficial is consultation? Rosie Murray West asks whether the words are falling on deaf ears

March 01 1999

Thommessen, Krefting hammers out metal buy

French state-owned company Eramet SA has bought 25% of the Norwegian metals company Elkem. The transaction is worth $204 million. Eramet will control two of Elkem’s magnesium smelting plants. The transaction was conducted under English law, and so involved law firms across four jurisdictions.

March 01 1999

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