Search results for

The new tax regime for patents in the UK may not offer a lower rate than similar rules in other countries, but, for reputational reasons, it may have more advantages, writes Mary Ashley.

A senior technical reviewer in the Internal Revenue Service's (IRS) transfer pricing branch has joined Mayer Brown's tax controversy practice in Washington, DC. Jason Osborn will represent taxpayers in transfer pricing controversies and advise on transfer pricing planning and the negotiation of advance pricing agreements (APA) with the IRS and foreign tax authorities.

Freshfields Bruckhaus Deringer has named David Haworth as the new head of its tax practice in London, succeeding Sarah Folk. Haworth, a former investment banker, works with UK and foreign clients, primarily in the financial services sector. He specialises in advising on the tax aspects of complex financing transactions, derivatives, debt and equity capital markets work and disputes with tax authorities.

Kevin Cummings has joined BDO to develop the firm's banking, capital markets and asset management tax capabilities in the UK.

The newly approved law Nº 20.630 has brought about several reforms of the Chilean tax legislation, raising, for example, the corporate tax rate to 20%, assimilating the cost of the limited liability companies’ (LLC) capital interests with that of the corporations’ stocks, unifying the taxation of the non-deductible expenses, and, including, as a great novelty, a new article 41E to the Income Tax Law, containing the new Chilean regulation on transfer pricing. Marcelo Muñoz Perdiguero, of Salcedo y Cia, explores the new measures.

Algirdas Šemeta, European Commissioner for Taxation, Customs, Statistics, Audit and Anti-fraud, explains that the proposal for a financial transaction tax (FTT) under enhanced cooperation that the Commission tabled last month is a milestone from at least two perspectives: the tax itself and the procedure used for the tax to become a reality.

Sandra Benedetto

Zoe Kokoni In December 2012, the Cyprus legislation on the regulation of businesses offering management services and related subjects was finally published. The legislation was welcomed by the majority of the service providers, who see the regulations as a step forward in further enhancing the level of quality in the provision of management services to private companies. The legislation does not apply on CIF and credit institutions who exercise administrative services in the framework of their business which are regulated by their respective competent authorities and management companies and variable capital investment companies who provide administrative services during the course of their business under the Open Ended Undertakings in Collective Investments Law, and only the persons who are eligible will be able to provide management services.

Jelena Zivkovic According to the annual budget adopted late December, for the current year the government is planning for €1.26 billion ($1.68 billion) and foreseeing various increases in tax revenues. The planned budget deficit is expected to reach 2.73% of the GDP while the planned GDP growth rate has been set at 2.5%.

Ayesha Lau