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  • US-based fashion design house Tommy Hilfiger has announced that it will buy Pepe Jeans USA and Tommy Hilfiger Canada for $1.15 billion.
  • Canadian National Railways has announced a $3 billion strategic merger with Illinois Central.
  • Tax advice providers are starting to register sites on the Internet, but have they stopped to consider what clients really want? If they haven’t, then they should. Adrian Preston and Phillippa Cannon report on the most popular tax web sites
  • Glaxo Wellcome and SmithKline Beecham have proposed a merger that would create the world's largest pharmaceutical group and the world's third-largest company after General Electric and Royal Dutch/Shell. The deal is worth £100 billion ($160 billion).
  • Russia's tax treaty programme continues to evolve rapidly. Russian treaty negotiators have been extremely successful in modernizing Russia's treaties, and as a result 17 new double taxation conventions came into force during 1997.
  • A recent tax court decision raises the possibility that an important new exception may be emerging in the complex statutory thin-capitalization rules which have been in force in Germany since 1994.
  • As part of its April 26 1995 technical bill of proposed amendments to the Canadian Federal Income Tax Act, Canada's Department of Finance released sweeping changes to the definition of, and rules relating to, the concept of taxable Canadian property (TCP).
  • A special report prepared by Jonathan Stuart-Smith and Tomohiko Kaneko of Deloitte Touche Tohmatsu, Tokyo
  • Russia's tax treaty programme continues to evolve rapidly. Russian treaty negotiators have been extremely successful in modernizing Russia's treaties, and as a result 17 new double taxation conventions came into force during 1997.
  • In the May 1997 edition of International Tax Review we briefly commented on proposed changes to regulations regarding a Norwegian parent company's right to credit for underlying foreign corporate taxes relating to dividends received from foreign subsidiaries. The bill passed parliament and is effective for dividends received from the fiscal year 1997.