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Tax directors are drowning in a sea of information. But as books give way to disks and CD-Roms, Oliver Ralph asks software users and suppliers how electronic information can help tax professionals and how much value these products really represent

In part one of International Tax Review’s GAAR survey, Bill Orow of KPMG in Melbourne examines the Australian rules. Recent changes have done little to reassure worried tax directors and the introduction of a smell test has left a bitter aftertaste

Tax planners ignore inflationary adjustments at their peril. Mario Andrade and Mario A de Castro, Deloitte & Touche Consultants, Bogota consider the accounting requirements for companies created by Colombia’s high rate of inflation

The second of two articles on the US check-the-box regulations examines the opportunities for investing from the US and the impact of recent changes. By Shawn Carson (BDO Seidman, New York), Allan Cinnamon and Zigurds Kronbergs (BDO Stoy Hayward, London)

New York-based tax litigator Lawrence Hill has joined White and Case as a partner. Previously, he was head of tax litigation and Internal Revenue Service controversy at Brown & Wood. Hill plays an active role as an advocate for the accounting profession and represents a number of big five firms. Specialities include advising accountants on ethical and risk management issues. He has also represented banking and investment banking companies in tax and litigation matters.

Self-assessment for transfer pricing exposes taxpayers to several potential risks. In this context an effective APA system is vital. Robert Cole, Alston & Bird, Washington DC and Michael McGowan of Allen & Overy, London outline their recommendations.

Lockheed Martin, the US defence and aerospace group is to acquire satellite communications company Comsat for $2.7 billion. The deal will require US Congressional approval, because under US law, no company is allowed to hold a stake exceeding 49% in Comsat, a former monopoly. Lockheed is advised by US law firm King & Spalding. Tax advice came from partners Thomas Wessel in Washington DC and Robert Woodward in Atlanta.

An OECD conference has laid the foundations for the taxation of electronic commerce. The conference, entitled: ?A Borderless World; Realizing the Potential of Global Electronic Commerce? was held in Ottawa, Canada. It was attended by nearly one thousand representatives from government, business and consumer groups. The meeting aimed to promote greater international policy compatibility on electronic commerce. The conference reaffirmed five major principles for the taxation of electronic commerce: neutrality, efficiency, certainty, fairness and flexibility.

Though contrary to European law, foreign shareholders in Germany are prevented from claiming a tax credit available to German nationals. But, as Hans-Jörg Fischer of Clifford Chance, Frankfurt, explains, the courts may well assist foreigners to claim their full entitlement

After two years of discussion, the IRS has finalized the rules covering the classification of software transactions. Alan Levenson and Alan Shapiro, Deloitte and Touche LLP, San Jose & Washington DC, examine the consequences for software developers around the world