December 2002

Issue

Date

Subject

2002-27

December 20, 2002
  • Czech Republic: Update on Unrealized Foreign Exchange Differences
  • Italy: Update on Shareholding Write-Downs and Capital Losses
  • United Kingdom: Follow-Up on ECJ Judgment in Thin Capitalization Case – UK Implications
  • United Kingdom: Consultation on Taxation of Pensions
  • United Kingdom: Income Tax (Earnings and Pensions) Bill

2002-26

December 10, 2002
  • Czech Republic: Amendment on Unrealized Foreign Exchange Differences Passed
  • France: Proposed Changes to French CFC Rules Not Submitted
  • Germany: December 17th Conference Call Discussion of Proposed Changes to German Tax System
  • Ireland: Tax Proposals for 2003 Recently Announced on Budget Day
  • Latvia: Legislative Update
  • Poland: Update on New Corporate Income Tax Rate
  • Sweden: ECJ Case May Have Implications for Intragroup Transfers
  • United Kingdom: HM Customs and Excise Business Brief on VAT Groups

2002-Special Edition

December 5, 2002
  • Germany: Discussion of Pending Tax Legislation

2002-Special Edition

December 2, 2002
  • United Kingdom: Pre-Budget Report: Chancellor Holds Line on General Taxes

November 2002

Issue

Date

Subject

2002-25

November 21, 2002
  • Austria: Proposed Amendments to Participation Exemption Regime
  • European Union: Approval of Fiscalis Programme 2003-2007 to Combat Tax Fraud
  • European Union: EC Rules on Luxembourg State Aid, Investigates Gibraltar's Planned Company Taxation Reform
  • France: Proposed Changes to Avoir Fiscal Credit in Draft 2003 Finance Bill
  • Germany: Follow-up on Draft Tax Reform Bill
  • Greece: Update on VAT Registration Rules for EU Entrepreneurs
  • Italy: Update on VAT Developments for Non-Resident Entities
  • Netherlands: Update of Dutch Tax Treaties
  • Poland: Draft of New Polish-German Double Tax Treaty
  • Poland: Legislation Increases the Corporate Income Tax Rate
  • Switzerland: Discussions Between EU and Switzerland on Taxation of Savings Income Continue
  • United Kingdom: Employee Share Schemes Act 2002
  • United Kingdom: Special Commissioners Address Taxation of Company's Purchase of Its Own Shares
  • United Kingdom: Update on Double Tax Treaty with the United States

2002-Special Edition

November 15, 2002
  • Germany: Draft Tax Reform Bill Would Affect German Subsidiaries with Tax Losses or Debt Financing

2002-24

November 7, 2002
  • Czech Republic: Recent Legislative Proposal Would Allow Additional Flood Relief
  • France: Amendments to the Margin Rate Procedure for French Headquarters
  • Germany: Autumn Edition of GermanNews
  • Italy: New VAT Rules Require the Filing of Additional Annual Return
  • Latvia: Amendments to Law on Taxes and Duties
  • Spain: Proposed VAT Modifications for e-Commerce Transactions
  • Switzerland: Discussion of Swiss Tax System
  • United Kingdom: Inland Revenue Posts Guidance on Taper Relief and the Substantial Shareholdings Exemption
  • United Kingdom: Overview of Inland Revenue Investigations
  • United Kingdom: "One Stop Shop" for Clearances Is Expanded to Apply to Capital Gains Tax and Intangible Fixed Assets

October 2002

Issue

Date

Subject

2002-Special Edition

October 29, 2002
  • France: Proposed Changes to the French CFC Rules

2002-23

October 24, 2002
  • Czech Republic: Proposal to Amend the Taxation of Unrealized Foreign Exchange Differences
  • Germany: Restriction of German Loss Carryforwards May Require Immediate Action
  • Italy: Shareholding Write-Downs and Capital Losses
  • Luxembourg: Transfer of a Totality of Assets for VAT Purposes
  • Luxembourg: Treaty with Trinidad & Tobago
  • Poland: Corporate Income Tax Amendments Affecting Banks
  • United Kingdom: High Court Grants Judicial Review Concerning VAT for Internet Services
  • United Kingdom: Finance Act 2002 Changes Affecting Corporate Debt, Foreign Exchange and Derivative Contracts
  • United Kingdom: EC Approves Community Investment Tax Credit Program
  • United Kingdom: Customs Extends Transitional Period for VAT Claims Following Marks & Spencer

2002-Special Edition

October 21, 2002
  • Germany: Government Declares Tax Intentions

2002-22

October 10, 2002
  • Czech Republic: Taxation of Unrealized Foreign Exchange Differences
  • France: Release of Draft Finance Bill for 2003
  • Italy: Draft Law for 2003 Budget Is Released
  • Italy: Webcast Video: Reform of the Italian Tax System
  • The Netherlands: Restriction of Participation Exemption in Relation to Passive EU Subsidiaries
  • Poland: Public Debt Restructuring, Tax Premium and Tax Credit
  • United Kingdom: Inland Revenue Publishes Corporate Finance Manual

2002-21

October 3, 2002
  • European Union: Advocate General Issues Opinion on German Thin Capitalization Rules
  • Italy: Webcast Video: Impact of the Philip Morris Decision
  • United Kingdom: Directors' Remuneration – Changes in Financial Reporting
  • United Kingdom: VAT Tribunal Decision Addresses Scope of VAT Exemption for Insurance-Related Services
  • United Kingdom: Ireland Is Removed from "Excluded Countries List" for CFC Purposes

September 2002

Issue

Date

Subject

2002-20

September 26, 2002
  • European Union: EU Joint Transfer Pricing Forum Established
  • European Union: Taxation of Passenger Cars
  • Italy: Step-Up of Shareholdings in Unlisted Corporations
  • Luxembourg: Proposed Changes to Commercial Company Law
  • The Netherlands: Dutch Supreme Court Ruling Addresses VAT on Recharge of Costs
  • The Netherlands: New Legislative Rules on Corporate Cost of Employee Share Options
  • Poland: Amendments to VAT Act Take Effect
  • United Kingdom: Composite Service Companies and "IR35" Legislation on Providing Services Through an Intermediary
  • United Kingdom: Group Relief Prior to 1 April 2002 for UK Branches of Companies Resident in the EEA

2002-19

September 12, 2002
  • Czech Republic: Exemption of Flood-Related Goods from Import Duties
  • Czech Republic: New Double Taxation Agreement with Slovakia
  • Germany: High Court Upholds Anti-Treaty-Shopping Clause
  • Italy: VAT Ruling Regarding Software Implementations and Upgrades
  • italy: Update on Italian Tax Reform to Be Discussed at Breakfast Seminar in New York, September 25
  • Luxembourg: Tax Proposals Intended to Help Alleviate Housing Shortage
  • Poland: VAT Refunds to Foreign Entities - New Countries Are Added to List
  • Poland: New Foreign Exchange Law is Effective in October
  • Switzerland: No Agreement Reached in Negotiations Between EU and Switzerland on Taxation of Savings Income
  • United Kingdom: Reform of Corporation Tax
  • United Kingdom: Inland Revenue Summarizes R&D Tax Credit Guidance

August 2002

Issue

Date

Subject

2002-18

August 29, 2002
  • Cyprus: Tax Reform for 2003
  • Czech Republic: Tax Consequences of Floods
  • Finland: New Tax Treaty with Singapore Is Signed
  • Germany: Government to Create Flood Recovery Fund
  • Italy: Breakfast Seminar on Italian Tax Reform to Be Held September 25, in New York
  • Poland: New Tax Treaties with Belgium, Denmark, and the Netherlands
  • Romania: Guidance on Employment Tax Registration and Withholding
  • United Kingdom: VAT Repayment Claims
  • United Kingdom: Business Rates – Local Government Bill Proposes Changes
  • United Kingdom: Change of Revenue Practice on Loss Relief for UK Branches of European Companies

2002-17

August 15, 2002
  • Czech Republic: Update on Discount Rate, VAT Refunds
  • European Union: U.S. Senators Propose Study of ETI Alternative
  • European Union: Webcast Video-Corporate Treasury Operations in Europe
  • Germany: High Court Limits Anti-Mailbox Company Provision
  • Poland: New Regulations Relating to Sales of Consumer Goods
  • Poland: VAT on Transactions Between Head Office and Branches
  • Romania: Corporate Tax Return Filing Deadlines, Foreign Exchange Losses, and Special Health Fund Contributions
  • Turkey: Changes in Indirect Tax System to Align with EU
  • United Kingdom: Inland Revenue Considers Additional Corporation Tax Reform
  • United Kingdom: Finance Bill 2002 Receives Royal Assent

2002-16

August 1, 2002
  • European Union: Proposal to Harmonize Taxation of Commercial Diesel Fuel
  • Italy: VAT Group Member May Transfer VAT Credit to Parent, but Only "in Full"
  • The Netherlands: Dutch Supreme Court Rules on Key Transfer Pricing Issues
  • Switzerland: Conclusion of Negotiations on Revisions to the Swiss-Norwegian Double Tax Treaty
  • United Kingdom: Draft Legislation on Permanent Establishment
  • United Kingdom: Inland Revenue Removes Ireland from List of "Excluded Countries"
  • United Kingdom: Update on Double Taxation Treaties and Treaty Negotiations

July 2002

Issue

Date

Subject

2002-15

July 18, 2002
  • European Union: Update on the European Company – Societas Europaea (SE)
  • France: High Tax Court Limits the Application of French CFC Rules in the Presence of a Tax Treaty
  • Luxembourg: Update on Luxembourg-Belgium Tax Treaty
  • Spain: Pending Bill Proposes Changes for Non-Resident Taxpayers
  • United Kingdom: Corporation Tax Quarterly Payments
  • United Kingdom: Tax Law Rewrite: Second Draft Bill Published

2002-14

July 3, 2002
  • Czech Republic: Update of Recent Tax and Customs Changes, Other News
  • Germany: Recent German Cross-Border Reorganization Developments
  • Germany: Scope of Subject-to-Tax Clauses in German Tax Treaties
  • Italy-United Kingdom: Potential Cash Windfalls for UK Companies with Italian Subsidiaries
  • Poland: Update on Input VAT
  • United Kingdom: Effect of Failure to Pay Stamp Duty on Document
  • United Kingdom: Who Bears the Burden of Next Year's NIC Increases?

June 2002

Issue

Date

Subject

2002-13

June 20, 2002
  • Croatia: Guide for Foreign Investors Purchasing Real Estate in Croatia
  • Denmark: New Legislation Provides Changes Affecting Business Taxpayers
  • European Union: Update on EU Code of Conduct for Business Taxation
  • International: Treasury Tax Notes
  • Luxembourg: Recent Tax Developments
  • Poland: Proposed Changes to Tax on Civil Law Activities
  • Spain: New Procedures for Foreign Businesses Seeking VAT Refunds
  • United Kingdom: Tax Arrangement Upheld by Special Commissioners
  • United Kingdom: Rollover Relief on the Replacement of Business Assets
  • United Kingdom: Quarterly Installment Payments of Corporation Tax Liabilities

2002-12

June 6, 2002
  • Bulgaria: Recent VAT, Tax Procedure, Corporate Income Tax and Other Changes
  • Croatia: Updated Tax Facts
  • Czech Republic: Amendments to the Customs Act and Other News
  • The Netherlands: Supreme Court Holds Acquisition-Related Expenses Are Deductible
  • Poland: Proposed Merger and Acquisition Changes for 2003
  • United Kingdom: Post-Implementation Review of the Tonnage Tax
  • United Kingdom: Inland Revenue Sets up "One-Stop Shop" for Clearances
  • United Kingdom: Jersey to Support Exchange of Information Directive
  • United Kingdom: Large Scale Repairs

May 2002

Issue

Date

Subject

2002-11

May 23, 2002
  • European Union: Update on Proposal for EU Consolidated Taxation
  • France: New Guidelines for Avoir Fiscal Tax Credit Relating to French Source Dividends Distributed to Foreign Residents
  • International: U.S. Treasury Department Releases Preliminary Report on Inversion Transactions
  • Ireland: Summary of Irish Tax System Includes Recent Legislative Changes
  • Luxembourg: Taxation of Rental Income from French Property; Tax Incentives to Address Land, Housing Shortage; Other News
  • United Kingdom: Update on Finance Bill and the Legislative Process
  • United Kingdom: Proposed Substantial Shareholdings Legislation
  • United Kingdom: Possible Changes to VAT Accounting Rules for Importers
  • VAT: EU Takes First Step in Proceedings Against Italy for VAT Refund Delays

2002-10

May 9, 2002
  • Czech Republic: Recent Tax Proposals and Other News
  • European Union: New Developments in FSC/ETI Controversy Between EU and United States
  • France: Withholding Tax on Gains Derived from Sale of French Real Estate by Pass-Through Entities Is Abolished
  • Ireland-United Kingdom: Establishing an Irish Captive May Offer Attractive Opportunities
  • Poland: Tax Changes Proposed for 2003
  • United Kingdom: Inland Revenue Challenges to Intra-Group Interest Payments
  • United Kingdom: Businesses Need to Plan for Increased National Insurance Contributions
  • United Kingdom: Simplified Rules for VAT Bad Debt Relief
  • United Kingdom: Stamp Duty Reforms
  • United Kingdom: Offshore Funds Are Being Reviewed

April 2002

Issue

Date

Subject

2002-09

April 25, 2002
  • Czech Republic: Update on Accounting for Depreciation of Assets, Tax Appeals
  • European Union: United States Considers Response to WTO Decisions on FSC/ETI
  • Germany: Restrictions on Use of Losses with Change of Control
  • Greece: Greek Branch Must Charge VAT on Services Supplied to Company Headquarters Located Outside Greece
  • Hungary: VAT Refund Measures for Foreign Visitors Take Effect
  • OECD: Seven Tax Havens Targeted in Update on Cooperating Jurisdictions
  • Poland: New VAT Decree
  • United Kingdom: Publication of the Finance Bill

Special Edition

April 17, 2002
  • United Kingdom: Chancellor Presents 2002 Budget to Parliament

2002-08

April 11, 2002
  • Denmark: Tonnage Taxation Measures Are Part of General Business Relief
  • Germany: Income Tax Treaty with Canada Enters into Force
  • Germany: Update on Transfer Pricing, Recent Tax Legislation
  • Ireland: Overview of Finance Act 2002
  • The Netherlands: Foreign Tax Credit for "New" Dutch Income Tax
  • United Kingdom: Chancellor Confirms Major Tax Relief for Large Companies

March 2002

Issue

Date

Subject

2002-07

March 28, 2002
  • Belgium: Tax Measures Subject to the European Code of Conduct
  • Italy: Analysis of Proposals to Reform the Italian Tax System
  • Switzerland: Does Tax Treaty Between United States and Switzerland Override the Bank Secrecy Laws for Years Before 1998?
  • United Kingdom: Chancellor Confirms Start Date for New Business Tax Incentives
  • United Kingdom: Inland Revenue Offers Guidance Concerning Tax Implications of the Euro
  • United Kingdom: Practical Issues With Corporate Tax Self Assessment
  • United Kingdom: Appeal Commissioners Define “Reasonable Excuse” for Late Filing
  • VAT: EC Files Complaint Over UK VAT Benefits for Employers

2002-06

March 14, 2002
  • Austria: Webcast Video: Tax Considerations for U.S. Companies Conducting Business in Austria
  • Czech Republic: Unexpected Result of Changes to Audit Provisions: When to File Tax Returns? In March or June?
  • Italy: Tax Authorities Clarify Luxembourg Company with Swiss Branch Is Subject to CFC Rules
  • The Netherlands: New Treaty Between Indonesia and the Netherlands
  • Spain: European Commission Approves Special Offshore Tax Regime
  • United Kingdom: What Tax Changes Will Be in the Budget?
  • United Kingdom: Duty Deferment – Electronic Service Available
  • United Kingdom: Travel Expense Rules Tested in High Court
  • VAT: Recoverability of VAT on Employee Expenses in Europe

February 2002

Issue

Date

Subject

2002-05

February 28, 2002
  • Croatia: Summary of Recent Tax Changes
  • European Union: Update on FSC/ETI Controversy
  • Italy: Italian Government May Appeal Commission’s Ruling That Tax Benefits for Banks Violate Rules on State Aid
  • Luxembourg: Overview of 2002 Tax Reform
  • The Netherlands: New Withholding Tax Rules for Dividends to Parents in Dutch Territories
  • The Netherlands: Negotiations Are Scheduled for New Tax Treaty with the United States
  • Spain: “Financial Goodwill” May Be Amortized Under Recent Changes to the Company Income Tax
  • United Kingdom: New Proposals to Revise Pension Annuities

2002-04

February 14, 2002
  • France: Tax Authorities Release New Guidelines Concerning Dividend Distributions Made by French Companies
  • France: Update on French Budget for 2002
  • Germany: Transfer Pricing -- Cross-Border Staff Transfers Between Internationally Associated Enterprises
  • Poland: Amendments to the VAT Regulations
  • Portugal: Loans by Non-Resident, Non-Financial Entities Also May Be Subject to Stamp Duty
  • Slovak Republic: Parliament Approves New Tax Reform
  • United Kingdom: The Taxation of Intellectual Property, Goodwill, and Other Intangible Assets
  • United Kingdom: Provisional and Estimated Figures in Returns; Budget Day Announced
  • VAT: Advocate General Casts Doubt Over Legitimacy of VAT Three-Year Cap
  • VAT: European Commission Proposes Programs to Fight Fraud and Cut Compliance Costs

January 2002

Issue

Date

Subject

2002-03

January 31, 2002
  • Czech Republic: Interest on Foreign Loans May Not Be Tax Deductible Until Paid
  • Estonia: New Unemployment Insurance System and Pension System Established
  • Germany: Federal Tax Court Judgment on Injection of New Assets
  • Germany: Law for the Curtailment of Illegal Employment in the Construction Industry – Withholding Tax on Payments for Construction Work
  • Hungary: New Tax Changes Affect Multinational Businesses
  • Luxembourg: Taxation of French Immovable Property Owned By Luxembourg Companies; Recently Approved Legislation
  • Slovak Republic: Canada-Slovak Treaty Enters Into Force
  • Switzerland: Changes to the Double Taxation Agreement Between Switzerland and Germany: No Tax Deduction on Qualifying Dividend Payments Beginning 2002
  • United Kingdom: Proposal Would Restrict Time Period for Making Negligible Value Claims
  • United Kingdom: Double Tax Relief -- the Former USSR and Newly Independent States

2002-02

January 17, 2002
  • Belgium: Announced Changes Introducing New Advance Ruling Procedures, Reduced Corporate Tax Rate, and Other Concepts
  • European Union: ECOFIN Reaches Agreement on Taxation of Savings Directive
  • Iceland: Corporate Tax System Becomes More Competitive
  • United Kingdom: Web Cast Spotlight: Part 3 on Proposed Corporate Tax Changes in the UK
  • United Kingdom: UK Adopts New Method for Companies Departing Consolidated Groups
  • United Kingdom: Hoechst -- The Saga Continues
  • VAT: UK Customs Officials Issue New VAT Information Sheet

2002-01

January 3, 2002
  • Germany: Business Tax Measure Is Enacted
  • United Kingdom: Web Cast Spotlight: Proposed Corporate Tax Changes in the UK -- Part 2
  • United Kingdom: Inland Revenue Revises Treatment of Trade Debts Written Back

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