The introduction of Service Tax in 1994 has generated quite a lot of opposition. The reasons for this are analyzed and, the benefits of the Value Added Tax to which the Service Tax should lead are explained.

The literature on mergers and acquisitions reveal mixed findings with respect to synergy potential and cultural distance. While some researchers suggest that high cultural distance would lead to better performance, others suggest that low cultural distance would lead to better synergy and performance. I propose that the degree of relatedness between the two firms and the integration approach adopted by the management could be potential moderators in this relationship. The aim of this article is to explore which integration approach (absorption, preservation and symbiosis) would lead to maximum synergy in mergers and acquisitions of firms from related and unrelated industries. A review of literature and case studies on mergers and acquisitions was done to develop a framework for the same. Limitations and directions for future research have been discussed.