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12 Intertax 1 (1984)

handle is hein.kluwer/intrtax0012 and id is 1 raw text is: News and Trends France: Harmonisation of Accounting Rules The Decree No. 83-1020 of 29 September 1983 provides details on the accounting rules for business in accordance with the transformation of the Fourth company law directive by law No. 83-353 of 30 April 1983. The general Accounting Plan was also revised. France: Receivables and Liabilities in Foreign Currency A provision of the draft for the supplementary tax law 1983 would require businesses to evaluate receivables and liabilities in foreign currency at the end of each financial year at the exchange rate prevailing at that date. This measure is destined to counteract a recent decision of the Conseil d'Etat of 29 July 1983, No. 29042, which based valuation of receivables on the principle of cost or lower market. Germany: Report on Thin Capitalization Issue The report of a working group on the problems of thin capitalization, which is supposed to be submitted at year end, is expected to propose that no fixed ratio should be required, but the acceptance of shareholder loans should be based on the merits of each individual case. In any case, the ratio of I : 1, proposed in 1982, should be increased to at least I : 3. Netherlands: Proposed Tax Measures for 1984 The Dutch Government made proposals to - reduce corporation tax rates in 1984 from 48 to 43 0. This should provide an incentive for additional economic activities. The natural gas sector should not benefit from this reduction. This should be implemented by a corresponding increase of royalties, - extend the period of carry-back from two to three years, in addition, the general provisions should be changed so that any loss would first be carried back to the first year of the three-years period and not, as currently, first to the last year. UK: Tax Treaty with Indonesia Following the notice given by the Government of Indonesia of the wish to revise the existing tax treaty with the United Kingdom, first talks were held in September 1983. It was agreed that the talks should be resumed in 1984 and that meanwhile the existing treaty should remain in force. Intertax 1984/1 I

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