Word: overhauled
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...September in a case involving Dutch automotive supplier Bosal, the European Court of Justice argued that national tax rules must treat business costs relating to investments elsewhere in the E.U. the same way they are treated at home. That decision gives tax authorities across Europe little choice but to overhaul their tax laws, which have traditionally taxed national operations differently from international ones. "There's a lot of tension and pressure on corporate tax systems" from the court, says lawyer Wouter Paardekooper of the Amsterdam office of Baker & McKenzie, which represented Bosal. But the newest and perhaps the biggest force...
...opposition Christian Democrats as well as the Free Democrats have both since published their own tax-simplification plans. And most significantly, the German government's own Council of Economic Experts, nicknamed "the Five Wise Men," last November attacked German tax rules as "chaotic" and proposed a comprehensive fiscal overhaul that would cut the top rate for income tax to about 35%. To help pay for the cuts, the Wise Men proposed eliminating €25 billion of annual tax breaks. Another common complaint about European taxes is that they send the wrong economic signals. In much of Europe, labor and consumption...
...restructuring plan that includes cutting 22% of Mitsubishi Motors' 49,000 employees, the closure of a factory in Japan, a revitalized car line with 44 new models to be introduced over the next three years, and a focus on boosting sales in China. Okazaki has also promised to overhaul the corporate culture by forming a business-ethics committee consisting of lawyers, academics and other outsiders to monitor senior management...
...past two years, Harvard’s once-in-a-generation curricular review held the promise of a complete and visionary overhaul of undergraduate education at the University. 59 years ago, the same process introduced the very notion of a core curriculum to American academia. And the last time University dons gathered to rethink Harvard’s pedagogical orientation—in the 1970s—the College adopted its commitment to teaching “approaches to knowledge” in the Core and beyond. But the recently released Harvard College Curricular Review (HCCR) report, which contains initial...
...renovation of the Hasty Pudding Theatricals’ building at 12 Holyoke St. was pushed back again this year because of Harvard’s inability to find a donor to fund the overhaul, meaning that the building will not be opened to other student groups until at least spring...