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  • Burdens imposed on non-US financial institutions by new US withholding rules can be alleviated by a qualified intermediary agreement with the IRS. By Barbara Hanrehan and Alan Shapiro of Deloitte & Touche, LLP New York and Washington, DC
  • Tax treaty negotiations in Latin America are proceeding at a rapid pace. Jorge Gross and John Salerno of Price Waterhouse LLP, Miami and Boston alert readers to the changes, and to the tax planning opportunities for multinationals
  • Hong Kong’s 1998/1999 budget presented the Special Administrative Region with a challenge – to ballast the economy against instability, but at the same time attract investment. Sunny Choong of Price Waterhouse, Hong Kong examines the results
  • Canada’s Technical Committee on Business Taxation finds an uneven tax system at odds with development priorities and a highly taxed service sector. By Stephen R Richardson of Tory Tory DesLauriers & Binnington, Toronto
  • In the first of three articles on investment in Indochina, John Fisher and Tim Watson of Coopers & Lybrand, Melbourne and Ho Chi Minh City analyse Cambodia’s attractions, which include flexibility and some unique tax incentives and guarantees
  • Import exemptions relating to customs duty and value-added tax (VAT) were reintroduced on January 1 1998, following their abolition in April 1996. However, only a relatively small group of foreign investors will now qualify for the exemptions.
  • A new decision on "turbo funds" sheds new light on the scope of the sham transaction procedure, as well as on the way the 80% penalty attached should apply (Tribunal Administratif d'Orleans – 1ère Chambre, December 9 1997 – req no 95-1535 – Société SDMO)
  • 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.
  • Canada's government unveiled its new budget on February 24. Many measures modify international aspects of Canada's tax system and will generally apply after the 1997 taxation year.
  • Singapore has introduced a budget designed to reinforce the country’s role as a prime location for financial services and logistics. Chris Kinsella of Coopers & Lybrand, Singapore reports on the specific measures and their impact