diff --git "a/win32/Makefile.msvc" "b/win32/Makefile.msvc"
index 2e4742bb..8bfe7d83 100644
--- "a/win32/Makefile.msvc"
+++ "b/win32/Makefile.msvc"
@@ -59,7 +59,13 @@ CFLAGS = $(CFLAGS) /D_CRT_SECURE_NO_DEPRECATE /D_CRT_NONSTDC_NO_DEPRECATE
 LD = link.exe
 LDFLAGS = /nologo
 LDFLAGS = $(LDFLAGS) /LIBPATH:$(BINDIR) /LIBPATH:$(LIBPREFIX)
-LIBS =
+# The libraries are needed for static builds (the makefile builds all tools and dlls)
+LIBS = iconv.lib charset.lib ws2_32.lib lzma.lib
+!if "$(DEBUG)" == "1"
+LIBS = $(LIBS) zlibd.lib
+!else
+LIBS = $(LIBS) zlib.lib
+!endif
 
 # The archiver and its options.
 AR = lib.exe
@@ -71,8 +77,14 @@ CFLAGS = $(CFLAGS) /D "_DEBUG" /Od /Z7
 LDFLAGS = $(LDFLAGS) /DEBUG
 !else
 CFLAGS = $(CFLAGS) /D "NDEBUG" /O2 
+LDFLAGS = $(LDFLAGS) /DEBUG /OPT:REF /OPT:ICF
 !endif
 
+# append CFLAGS etc. passed on command line
+CPPFLAGS = $(CPPFLAGS) $(EXTRA_CPPFLAGS)
+CFLAGS = $(CFLAGS) $(EXTRA_CFLAGS)
+LDFLAGS = $(LDFLAGS) $(EXTRA_LDFLAGS)
+
 # Libxslt object files.
 XSLT_OBJS = $(XSLT_INTDIR)\attributes.obj\
 	$(XSLT_INTDIR)\documents.obj\
@@ -309,13 +321,7 @@ $(UTILS_INTDIR) :
 # An implicit rule for xsltproc and friends.
 APPLIBS = $(LIBS)
 !if "$(STATIC)" == "1"
-APPLIBS = $(LIBS) libxml2_a.lib
-!if "$(WITH_ICONV)" == "1"
-APPLIBS = $(APPLIBS) iconv.lib
-!endif
-!if "$(WITH_ZLIB)" == "1"
-APPLIBS = $(APPLIBS) zlib.lib
-!endif
+APPLIBS = $(LIBS) libxml2.lib
 {$(UTILS_SRCDIR)}.c{$(BINDIR)}.exe:
 	$(CC) /D "LIBXML_STATIC" /D "LIBXSLT_STATIC" /D "LIBEXSLT_STATIC" \
 		$(CFLAGS) /Fo$(UTILS_INTDIR)\ /c $<