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Sabine Graziosi On July 18 2012, the Belgian Prime Minister presented the great lines of the recovery plan decided by the government. The plan, which still needs to be implemented through new legislation, includes a series of tax measures that should stimulate R&D activities and innovation and announces some administrative improvements to boost the competitiveness of businesses. The government decided to increase from 75% to 80% the partial exemption for paying withholding tax on wages paid to scientific researchers. At the moment, firms that employ scientific researchers benefit from a partial exemption from payment of withholding tax on their wages. They must transfer to the tax authorities only 25% (20% as soon as the government's recent decision is implemented) of the withholding tax due on the wage of these researchers to the tax authorities while they withhold 100% of the withholding tax that would normally be due. According to recent studies, the partial exemption of wage withholding tax is one of the most popular Belgian tax incentives in favour of R&D.

While the banking crisis in Ireland has constricted traditional lines of credit, it has also created opportunities for financial institutions with healthier balance sheets to finance the many businesses based in Ireland with strong fundamentals. Understanding the tax implications for the Irish borrower is a key consideration in the lending process. John Gulliver and David Burke of Mason Hayes & Curran examine the tax treatment of corporate debt for Irish borrowers, comparing and contrasting this by way of illustration with the tax treatment for UK borrowers.

Poland’s Supreme Court recently questioned the economic rationale behind the acquisition of procurement services from a related entity. Aneta Blazejewska-Gaczynska of Ernst & Young explains why this decision should force multinationals to examine their supply chain structures.

VAT fraud costs the EU and the national budgets several billion euros every year. Thus, avoiding fraud has become the most important issue for the EU and the member states. Ronny Langer and Thomas Küffner of Küffner Maunz Langer Zugmaier look at the measures that have been introduced to address the problem and how they are affecting honest businesses.

Bogdan Voinescu has joined Ionut Bohâlteanu as a partner of Musat & Asociatii – Tax Advisory in Romania.

Duval & Stachenfeld, in New York, has started a new tax practice with the arrival of Stephen Land, a former partner of Linklaters in the city.

Kotaku Kimu of PwC looks at Japan’s carbon tax, the doubling of consumption tax and what these reforms mean for taxpayers.

Danish taxpayers should be able to avoid withholding tax on certain reorganisations after the National Board delivered a ruling on deemed dividend distributions, argue Anders Oreby Hansen, Poul Erik Lytken and Arne Riis of Bech Bruun–Taxand.

Taxpayers may never fully understand the myriad demands of global transfer pricing compliance. One thing that can help, though, is sharing experiences and discussing strategy.

The official who was staff director of the SEC's project on the implications of incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for US companies, has been named as the organisation's acting chief accountant.