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  • In the June 1997 issue of International Tax Review, we reported on a ruling by the Federal Tax Court in which the court rejected the amortization of purchased trademarks – in the absence of special circumstances – under the valuation law as in force through to December 1992. At the time, the tax authorities were expected to give assurances that they would not seek to apply the ruling for income tax purposes.
  • In a press release of April 19, the Netherlands Council of Ministers approved a bill to amend the fiscal unity regime.
  • The Finnish government has introduced bills amending the Taxation Act for the tax year 1999. The amendments are described below.
  • Which business entity should investors choose? How can profits be repatriated? Which expenses can be deducted? These and other questions are answered by John Fisher and Lorraine Chan of Coopers & Lybrand, Melbourne and Ho Chi Minh City
  • Central America is attracting investment attention; worldwide tax systems have almost been abolished and national tax treatment is on offer. By Miguel A Valdés and Nicolás Muñiz of Ernst & Young’s Latin America Business Centre, New York
  • Andersen poaches Coopers partnerships
  • The St Petersburg legislative assembly is considering three draft laws that would provide tax incentives for foreign investors in the city. The draft laws propose state support of investment activity and tax concessions. An additional proposal calls for the establishment of a commission to help resolve investment conflicts. The commission would be composed of politicians and business representatives.
  • A measure under consideration by the US Senate is designed to extend confidentiality privileges in tax matters. The measure is part of a wider IRS restructuring and reform bill.
  • Reed Elsevier, the Anglo-Dutch publishing group, has agreed to purchase two businesses from California-based publisher Times Mirror. Reed Elsevier will acquire Matthew Bender and the 50% of Shepard's Company that it does not already own. The deal is valued at $1.65 billion and will create the second-largest legal publisher in the US.
  • A recent ruling by the European Court of Justice (Safir v Skattemyndigheten, Case C-118/96) has failed to give a clear principle on the subject of the taxation of pension funds. The case related to taxes on life assurance, but some companies had hoped that it would lead to a more general ruling that could apply to pension funds. Multinationals are keen to establish pan-European pension funds to make savings and ease cross-border personnel movements.