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  • Germany tightens ratio structure
    Despite initial hopes that the German reforms would leave thin capitalization untouched, it looks likely that the debt-to-equity ratios will be changed. Norbert Meister, of Bruckhaus Westrick Heller Löber, analyzes the implications for multinationals
    March 01 1999
  • TaxFax
    If you’re already frightened by the year 2000 problem, here’s more gloomy news for you. The New Zealand Inland Revenue has issued a greatly sympathetic leaflet, reminding us all that computer failure is no excuse for not paying taxes.
    March 01 1999
  • US and Venezuela make treaty history
    After years of debate, delay and controversy, the US has signed its double tax treaty with Venezuela. It is the first between the US and a Latin American country outside of NAFTA members. The treaty breaks new ground as Venezuela, like many other Latin American jurisdictions, has a territorial tax system. The hope is that the precedent set will be followed throughout the region.
    March 01 1999
  • Davis Polk ensures success
    New York firm Davis Polk & Wardwell is advising New Jersey-based insurer Chubb Corporation in its acquisition of Executive Risk, a US insurance company. The transaction is valued at $850 million.
    March 01 1999
  • Allen & Overy in $900 million air finance deal
    UK law firm Allen & Overy advised the Tokyo and London offices of Banca Commerciale Italiana (BCI) and Banca Commerciale Italiana (Ireland) plc in the acquisition of $900 million of Sanwa’s air financing business.
    March 01 1999
  • Slaughter & May advises Abbey National
    UK firm Slaughter & May advised the Abbey National Group on the acquisition of three finance businesses from NatWest Group.
    March 01 1999
  • Canada seeks brighter APA future
    The Canadian APA programme has had a rocky start since it was established in the early 1990s. But, as George Will of KPMG LLP, Toronto reports, a new attitude on the part of Revenue Canada could encourage more multinationals to seek the certainty of an agreement
    March 01 1999
  • De Brauw poaches Buruma’s tax team
    Netherlands law firm Buruma Maris has lost its entire tax practice to the Dutch Linklaters & Alliance member, De Brauw, Blackstone, Westbroek.
    March 01 1999
  • Plesner & Grønborg partner resigns amid fraud scandal
    One of Denmark’s leading tax advisers Robert Koch-Neilsen of law firm Plesner & Grønborg, has resigned his position at the firm following a financial scandal involving one of his clients. Kurt Torsen, a development entrepreneur, is under investigation by the Danish police after a signature on guarantees used by him to raise money for his projects was found to be false.
    March 01 1999
  • Simpson Thacher & Bartlett produces chemical reaction
    Chemical company Rohm & Haas is acquiring rival firm Morton International for $4.6 billion. The purchase will be paid two-thirds in cash and one-third in stock.
    March 01 1999
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