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  • Philippines car producers object to Ford’s break
    The government of the Philippines, and the Ford Motor Company, are being challenged over the tax incentives awarded to the US company for building an operating a plant in the country's special economic zone.
    March 31 1998
  • Taxfax
    Clients looking for independent tax advice are the target market for the Chiltern Group, a new UK tax and business consultancy firm launched in March this year.
    March 31 1998
  • EU tax harmonization back on the agenda at Ecofin meeting
    A meeting of Ecofin ministers held in March this year to discuss the post-monetary union financial environment will provide reports on the extent, degree and nature of cooperation between European finance ministers on tax policy.
    March 31 1998
  • News in brief
    When Sweden's telecoms group Ericsson confirmed that it was considering moving its headquarters from Sweden in protest at what it saw as penal rates of corporate tax, alarm bells clearly rang for the government presently seeking re-election. The government has now hinted that it may address the burden of taxation on business and in doing so take a less hostile line.
    March 31 1998
  • Headline rates go down, but pressure goes up for multinationals
    A survey carried out by the KPMG International Tax Centre and published this month shows that corporate tax rates are almost universally down across the world.
    March 31 1998
  • Dutch Supreme Court rules on hybrid debt
    On March 11 1998, the Dutch Supreme Court handed down a decision on the reclassification as equity of (convertible) debt, refining the criteria which had been established in prior case law. Before discussing the specifics of the case, the established jurisprudence regarding ?hybrid debt? is outlined below.
    March 31 1998
  • Societe Generale consults Simpson Thacher & Bartlett
    Societe Generale Securities Corporation, a subsidiary of Societe Generale, has made a $520 million bid to acquire Cowen & Co, the US investment bank.
    March 31 1998
  • Cleary, Gottlieb, Steen & Hamilton advises Saison
    Bass, the UK brewing and hotel group, has made a $1.4 billion bid to buy 187 Inter-Continental hotels owned by the Japanese Saison Group. Bass beat off rival bids from Marriott International, among others.
    March 31 1998
  • Linklaters advises on sale of Waterstones
    Doublecapital, a joint venture formed by Advent Group and EMI, has agreed to buy Waterstones, the UK bookstore group owned by WH Smith. The deal is valued at £300 million ($490 million).
    March 31 1998
  • Australia: draft ruling will increase expatriate costs
    The Australian Tax Office (ATO) has issued a draft tax ruling which discusses when a short-term visitor to Australia is resident for Australian tax purposes.
    March 31 1998
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