ITR Search | International Tax Review

Launch of the EURO in Germany

The launch of the euro and, with it, European Monetary Union in Germany and the 10 other participating EU countries, effective January 1 1999, is the most significant European economic and political act since the founding of the European Economic Community in 1957.

March 01 1999

Australia aims to allay APA fears

Australian APAs are becoming an increasingly popular tool. But, as John Donaldson of KPMG in Melbourne explains, the Australian Tax Office still has some work to do to convince taxpayers that the process is secret and speedy enough to merit serious consideration

March 01 1999

Switzerland fights back with benefits

In the global race to attract multinationals through tax incentives, Switzerland has been losing out. Markus Neuhaus of PricewaterhouseCoopers, Zurich reports on a series of laws and regulations designed to win back old investors and attract new ones

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

UK moves to close M&A tax loophole

The UK Inland Revenue has acted to close what it sees as a loophole in tax law that allows companies involved in international mergers and acquisitions to avoid a 1.5% tax. A number of recent transactions, including the BP/Amoco merger, the Astra/Zeneca merger and the Vodafone/Airtouch deal, were structured to benefit from an exemption which allowed the companies to avoid the 1.5% stamp duty reserve tax.

March 01 1999

Netherlands offers new certainty

In the first of our series of articles on advance pricing agreements around the world, Monique van Herksen of Stibbe Simont Monahan Duhot analyzes how the Netherlands APA system offers a new element in the traditionally strong Dutch advance rulings procedure

March 01 1999

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

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

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