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  • Swiss pharmaceutical manufacturer Novartis is the latest company to feel the wrath of the Japanese authorities over transfer pricing. The Japanese government has fined Novartis' Japanese subsidiary, Ciba-Geigy Japan, ¥3.3 billion ($28 million) for underreporting its income by ¥8 billion between 1990 and 1994.
  • United Kingdom
  • Hong Kong
  • German finance minister Oskar Lafontaine resigned from his post suddenly in March. Bonn officials gave no reason for his resignation, but the announcement followed an embarrassing forced revision of the forecasts for his tax reform plans.
  • The US APA programme is widely imitated and has become the benchmark for other jurisdictions. Steven Harris of KPMG LLP, Washington analyzes the reasons for its success and reviews the changes that could be on the horizon
  • The Japanese preconfirmation system has been around for 12 years – longer than even the US system. Akio Miyamoto, Dean Yoost and Greg Noble of PricewaterhouseCoopers in Tokyo discuss the system and the increasing popularity of bilateral APAs
  • On March 10 1999, the Canadian government tabled a revised, detailed Notice of Ways and Means Motion modifying, in certain respects, the proposals relating to section 17 of the Canadian federal Income Tax Act contained in an earlier Motion tabled on December 10 1998 (see International Tax Review, March 1999).
  • The big five accounting firms would like internal feuds to be invisible to the outside world. But in Latin America, disagreements have forced member firms to jump from one organization to another with alarming frequency over the last year. Oliver Ralph reports
  • The Düsseldorf Regional Tax Court has prevented tax auditors from using secret comparables in transfer pricing studies. The decision also raises questions over the use of profit methods. Thomas Borstell and Michael Prick, Ernst & Young Düsseldorf, examine the decision
  • South Africa