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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.

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

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.

Michael Stenftenagel, an experienced tax technology and compliance professional, has joined Alvarez & Marsal Taxand as a managing director in Houston. He has advised clients in a variety of industries, including energy, manufacturing, telecommunications, insurance, banking and healthcare on tax technology solutions for income tax provision and compliance, ASC 740, US and state compliance and tax function process improvement.

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.

Andrew Sliwa, Hadley Leach and William Methenitis of Ernst & Young in the US look at the problems associated with cross border effectiveness, provide hypothetical examples of how the issue can impact your tax department and explain how to apply the theory to the realities of business.

On December 26 2012, the Cambodian government passed the 2013 Financial Management Law which updated the registration tax (sometimes referred to as a seal tax). In some instances the scope of the tax was modified and in others completely new categories of "transfers" that will also be subject to the tax were created.

Sandra Benedetto

Rajendra Nayak