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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

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

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

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

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

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