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  • Global tax cuts ease the pressure
    It may not feel like it, but corporate tax rates around the world are falling. And residents of developing countries are already benefiting from the types of reduction that their counterparts in OECD countries can only dream about
    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
  • 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
  • Norton Rose advises on AXA deal
    Norton Rose in London is advising French insurance company AXA on the acquisition of UK insurers Guardian Royal Exchange. The deal is valued at $5.6 billion.
    March 01 1999
  • Airtouch seeks IRS ruling on Vodafone merger
    Airtouch Communications Inc is seeking a ruling from the US Internal Revenue Service (IRS) due to fears that their $58 billion merger with Vodafone will not satisfy a requirement for tax-free transactions.
    March 01 1999
  • 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
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