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  • Hicks, Muse, Tate & Furst consults Weil Gotshal & Manges
    US leveraged buy-out company Hicks, Muse, Tate & Furst is to sell LIN Television to affiliate company Chancellor Media. The deal is valued at $900 million and involves Chancellor issuing 17.7 million shares to Hicks Muse, doubling Hicks' stake in the company from 9% to 18%. Hicks Muse bought LIN Television in March 1998.
    August 31 1998
  • Hong Kong lures investors with profits tax exemption
    To encourage businesses in Hong Kong to repatriate their funds from overseas, the Hong Kong Special Administrative Region government announced on June 22 1998 that interest on local bank deposits will be exempt from profits tax. This is good news to those companies with surplus cash. Several listed companies have responded positively to the announcement already, saying they will move their offshore bank deposits back to Hong Kong.
    August 31 1998
  • Morgan, Lewis and Bockius advises ABC
    American Bottling Company has acquired Beverage America and Select Beverage of the US. American Bottling Company is a joint venture between Cadbury Schweppes and the Carlyle Group.
    August 31 1998
  • GOVERNMENT RESOLUTIONS SUPPLEMENT NEW TAX LAWS
    As Russia continues to struggle with tax collection, a package of tax bills was presented to the Russian Duma in June. While some of the new laws were passed, the failure of the Duma to approve the entire package of laws before the summer recess resulted in the introduction of additional measures by government resolution. Some important recent additions and changes follow.
    August 31 1998
  • The Netherlands
    TAX LEGISLATION; TREATY DEVELOPMENTS; INTERNET TAXATION
    August 31 1998
  • TAX REFORM IN PROGRESS
    In March 1998, Argentina's Executive signed a tax reform proposal containing several provisions.
    August 31 1998
  • US pauses for breath on subpart F
    Notice 98-35 has offered taxpayers respite from an IRS attack on hybrid transactions. Michael J Cooper & Stan Torgersen of Deloitte & Touche LLP, Washington DC look at the dimensions of transitional relief and the likely form of future regulations
    August 31 1998
  • Australia sharpens tax policy focus
    Australia’s government wants to introduce a goods and services tax, as the first step on the road to a radical tax policy rethink. Ian Dinnison, of KPMG, Melbourne looks at the emerging contours and practical implications of the reform programme
    August 31 1998
  • ECJ brings forex into the supply fold
    UK businesses will be able to reclaim an estimated $160 million from HM Customs and Excise as a result of the European Court of Justice’s long-awaited ruling in the First National Bank of Chicago case. By Graeme Ross and Adam Lloyd, KPMG London
    August 31 1998
  • Lao: a new item on the agenda?
    Multinationals generally have not put Lao People’s Democratic Republic on their agenda of investment locations. To redress this, the Lao PDR government is actively promoting investment. By John Fisher and Van Mumby, PricewaterhouseCoopers Sydney and Hanoi
    August 31 1998
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