tax bulletin

More than €200 billion of claims relate to discontinued European non-life business. Yet, while most of these closed books reside in Continental Europe, their existence has until recently been scarcely acknowledged publicly.

In a recently released Corporate Directors Survey, 41% of corporate board members reported that their companies monitor social media for adverse publicity.

The new Administrative Principles replace the old provisions for the determination of bank branch dotation capital which expired on 31 December 2000. The new rules will take full effect from 1 January 2004.

International commercial arbitration offers a flexible, enforceable method of dispute resolution and lessens disputes.

The finance ministry has issued a decree summarising recent Supreme Tax Court cases on questions arising in connection with short-term capital gains from the sale of securities held as private assets.

The U.S. Court of Appeals for the Ninth Circuit reversed a lower court’s grant of partial summary judgment in favor of the plaintiff-junior accountants, noting that the district court’s holding would produce "significantly troubling results" and create "highly problematic precedent affecting several non-accounting professions."