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Lachlan Wolfers and Curtis Ng of KPMG explain what impact the Chinese VAT pilot will have on the construction and real estate sectors once it is extended to them.

Jacqueline Cottrell and Constanze Adolf of Green Budget Europe explain why France should implement carbon-energy taxation.

The Conseil d’Etat recently handed down a judgment on the deductibility rules for input VAT on expenditure incurred by holding companies active in the management of their subsidiaries. Sonia Bonnabry, of LeXcom, analyses what the decision means for taxpayers.

Though we are only a few weeks into 2013, it is already clear that it will be a year in which cross-border cooperation and exchange of information reach new highs. Matthew Gilleard looks at how and why cross-border cooperation and information exchange are increasing, which jurisdictions are driving this, and what effects are already being seen.

Foley & Lardner has expanded its tax practice in Silicon Valley with the hire of new partner Fred Adam.

Tim Martino Baker Tilly Pitcher Partners has hired Tim Martino as a manager in the firm's tax services division in Perth, Australia. He leaves a tax management role at Ernst & Young. Martino has experience in both national and international tax advisory, as well as in broader commercial management, financial advisory and corporate reorganisation. He focuses on GST issues for a wide range of industries, including focusing on property, resource and cross-border operations, though he also deals with other indirect taxes, including customs duties, fuel tax credits and payroll taxes.

Donka Pechilkova On November 15 2012, the Bulgarian Parliament accepted amendments to the Value Added Tax Act and a 10% tax on bank deposit interests was approved. Effective from January 1 2013, the new tax is applicable on fixed term deposits but not on termless deposits, current accounts and the saving accounts. In addition, the interests from deposits of Bulgarians in bank accounts in other EU member states and European Economic Area countries will also be taxable. The tax would be paid at the end of the month following the quarter in which the interest was due. The obligation to withhold the tax and pay it to the authorities lies with the banks. Physical persons, who have received interests from fixed term deposits, are also obliged to declare them in their yearly income declaration.

Benjamin Twardosz Austria's substantial network of double taxation treaties offers advantages to foreign investors that choose to invest through Austria, when compared with other holding jurisdictions. Examples of such treaties are those with Brazil, Kazakhstan and Turkey. To illustrate, taking the case of Turkey, dividends paid to foreign shareholders on Turkish equity investments are subject to domestic withholding of 15% which, when combined with the domestic corporate income tax rate of 20%, may aggregate to a considerable 32% tax burden.

Adam McBeth In notice 1393, the General Department of Taxation (GDT) announced that it was granting an extension to the filing deadline for 2012 Cambodian property tax returns, through November 30 2012. In addition, the GDT will remain open on Saturdays and Sundays through the deadline to accommodate the rush of late filers at the various provincial/Khan tax branches. This extension of the filing deadline is one of many that have been granted since the introduction of this new tax just two years ago. The Cambodian property tax (PT) was introduced as part of the Finance Act of 2010, and first became payable in 2011. The tax is assessed against all immovable property/real estate located in Cambodia and having a value in excess of KHR 100 million ($25,000).

Helene Rives