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Court says foreign units' stock options not taxable as income

TOKYO, Nov. 26 Kyodo - Atsushi Shimizu, a former auditor of Compaq, now reorganized into Hewlett-Packard Japan Ltd., speaks at a news conference Nov. 26 after the Tokyo District Court ruled that tax authorities illegally taxed as income the shares that employees of Japanese subsidiaries acquired in their U.S. parent firms through stock options. Shimizu, along with a Microsoft Co. employee, had demanded that the authorities void the taxation on the grounds that it violated the income tax code.

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Court says foreign units' stock options not taxable as income

TOKYO, Nov. 26 Kyodo - Atsushi Shimizu, a former auditor of Compaq, now reorganized into Hewlett-Packard Japan Ltd., speaks at a news conference Nov. 26 after the Tokyo District Court ruled that tax authorities illegally taxed as income the shares that employees of Japanese subsidiaries acquired in their U.S. parent firms through stock options. Shimizu, along with a Microsoft Co. employee, had demanded that the authorities void the taxation on the grounds that it violated the income tax code. (Kyodo)

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Hewlett Packard, Compaq announce merger

NEW YORK, United States - Carly Fiorina (L), chairman and chief executive officer of Hewlett Packard, and Michael Capellas, chairman and chief executive officer of Compaq, smile after they announced a merger agreement between their two companies in New York on Sept. 4.