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April 2012

Vienna/Budapest, 5 April 2012 – WOLF THEISS tax lawyer Erzsébet Varga, an associate in the Wolf Theiss Budapest office, was awarded the Klaus Vogel scholarship for her thesis on the comparison of the Hungarian, Luxembourg and Maltese IP tax regimes.

The scholarship was announced by the Institute of International Taxation, Inc. and was created in memory of Klaus Vogel, who was one of the most well-known and respected members of the international tax community and widely recognized as an academic expert on international taxation, particularly tax treaties.

Part of winning the award included the opportunity to participate at the 12th Annual Tax Planning Strategies Conference in Vienna this March, which was jointly organized by the International Bar Association, the American Bar Association and the International Fiscal Association. Erzsébet's thesis entitled, "A Comparison of the Hungarian, Luxembourg and Maltese IP Tax Regimes," was considered the best research work amongst the applicants.

Erzsébet commented, "It was a great honor for me to receive this scholarship and to attend the conference. I am very pleased for two reasons: First, I have always admired Klaus Vogel's work and studied his books with great enthusiasm. Second, when researching my paper on the differences of the Hungarian, Luxembourg and Maltese intellectual property tax regimes, I came to the conclusion that Hungary has a very competitive scheme in international tax planning compared to other European states."

Erzsébet completed her studies in Hungary and Belgium and is specialized in international and European tax law. Before joining Wolf Theiss' Budapest Tax Practice, she gained valuable experience in well-established Italian law firms with strong international focuses. She has been a member of Wolf Theiss since 2010.

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    The finance ministers of the European Union met again last week to discuss the plan of introducing a single EU financial transaction tax. According to the plan, a 0.1 percent tax would be levied on bond and capital transactions, while a 0.01 percent tax would be charged on derivatives transactions.
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