ITR Search | International Tax Review

Korea: variations on OECD theme

Korea’s International Tax Coordination Law updates the country’s transfer pricing regime, to deal with a growing volume of international transactions. Brian Park of Price Waterhouse, Seoul looks at the detailed requirements of the regime

February 01 1998

Guardian Royal Exchange buys PPP Healthcare

UK insurance group Guardian Royal Exchange has paid £435 milllion ($700 million) for PPP Healthcare, the UK's second largest private medical insurer. The acquisition gives the group a strong position in the private medical insurance and long-term care markets PPP Healthcare was advised by Linklaters in London. Tax partner Charles Hellier, and tax assistants Sarah Squires and Paul William worked on the deal.

February 01 1998

Interface buys stake in Readicut International

US carpet manufacturer Interface has bought the European carpet division of UK company Readicut International for $50.3 million. Readicut was advised by UK law firm Eversheds with tax advice from partner Richard Hutchinson in Leeds.

February 01 1998

Disposal by Bass of Coral

UK brewer Bass has disposed of Coral Bookmakers to fellow bookmakers Ladbrokes. The deal is worth approximately £375.5 million ($604 million). Bass was advised by tax partner Charles Hellier at Linklaters in London.

February 01 1998

Hercules bids for Allied Colloids

US chemical group Hercules has made a hostile bid for US chemicals company Allied Colloids, a UK producer of water-treatment chemicals. The deal is valued at $1.8 billion.

February 01 1998

Small firms - the next big thing?

In 1997, a number of high-profile tax advisers made a bid for professional independence by setting up their own tax boutiques. Can these firms survive without the support of a large law or accounting firm network? Phillippa Cannon reports

February 01 1998

Letters to the editor

From: Jefferson VanderWolk

February 01 1998

Switzerland returns to form

Tax reform in Switzerland has revitalized the Swiss holding company regime. Peter Riedweg of Homburger Rechtsanwälte, Zurich looks at some of the regime’s new features, which include a capital gains tax exemption for qualifying participations

February 01 1998

News in brief

The IRS has announced that it will not appeal against the US Tax Court's decision in the SDI Netherlands BV v Commissioner case. The court found that royalty payments made by the taxpayer for the use of software in the US, to a related company in Bermuda did not qualify as US source income. The finding was based on the fact that the royalty payments from SDI USA passed through SDI Netherlands before they reached the Bermuda company.

February 01 1998

MascoTech and TriMas to merge

MascoTech is set to merge with TriMas Corporation, a manufacturer of industrial products. The transaction is valued at approximately $900 million. MascoTech already owns 37% of TriMas. The merged organization will have a combined sales volume of $1.6 billion.

February 01 1998

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