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1998 REFORM TARGETS TRANSFER PRICING

The 1998 Mexican tax reforms, published in the Official Gazette on December 29 1997, contain important transfer pricing amendments, and amendments to the rules relating to the taxation of derivative transactions, back-to-back loan arrangements, and investments in low-tax jurisdictions.

March 31 1998

SHAM TRANSACTIONS REASSESSED

A new decision on "turbo funds" sheds new light on the scope of the sham transaction procedure, as well as on the way the 80% penalty attached should apply (Tribunal Administratif d'Orleans – 1ère Chambre, December 9 1997 – req no 95-1535 – Société SDMO)

March 31 1998

FRANKING TRADING AND DIVIDEND STREAMING LEGISLATION

Legislation to implement provisions to counter franking credit trading and dividend streaming was introduced into parliament on December 4 1997. There has been considerable discussion about the proposed rules, which will be debated in parliament during March/April 1998. The rules apply to dividends and other distributions paid on or after 7.30pm, May 13 1997.

March 31 1998

BUDGET MODIFIED INTERNATIONAL TAX RULES

Canada's government unveiled its new budget on February 24. Many measures modify international aspects of Canada's tax system and will generally apply after the 1997 taxation year.

March 31 1998

TAX REFORM UNVEILED

Argentina's Executive has announced a package of fiscal measures, which will be submitted to Congress for approval.

March 31 1998

Exploring the taxation of oil and gas (part one)

In the first part of International Tax Review’s survey of oil and gas tax regimes, Vibe Amundsen and Ian Sutherland of Ernst & Young, Oslo and Calgary highlight essential information for investors in Norway and Canada

March 31 1998

Singapore underlines attractions

Singapore has introduced a budget designed to reinforce the country’s role as a prime location for financial services and logistics. Chris Kinsella of Coopers & Lybrand, Singapore reports on the specific measures and their impact

March 31 1998

The fine art of sharing

Steve Hasson of Price Waterhouse, London looks at the tax issues surrounding the set up and running of a management dream – shared service centres. Particular emphasis is given to the transfer pricing implications

March 31 1998

China curtails confusion

China dismayed foreign investors by withdrawing import tax exemptions in 1996. New exemptions have now been introduced, but as Guanxi Zheng of Stikeman, Elliott, Hong Kong explains, restrictions apply

March 31 1998

TNT – setting the tax standard

Managing change, external advisers and management expectations; these are just some of the challenges facing Tim Brierley, head of fiscal services at TNT Post, Amsterdam, who talks to Phillippa Cannon about setting high standards

March 31 1998

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