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Argentinian lawyer, Guillermo Teijeiro, has launched a new firm. Teijeiro & Ballone Abogados will be based in Buenos Aires and Teijeiro brings with him a number of colleagues from his former firm Negri & Teijeiro, which Teijeiro founded more than 30 years ago.

Natalie Napier has joined ENS – Taxand as a director in Johannesburg, specialising in corporate tax. Napier has 12 years experience and has acted for both listed and unlisted companies in the mining, telecommunications, banking, retail and health industries.

Deloitte has a new head of its tax management consulting practice in the US.

The Finnish government was forced to clarify figures released by the Parliament's Audit Committee which stated that the Finnish exchequer lost up to $2 billion annually because of transfer mispricing.

Rossitza Koleva The Bulgarian Ministry of Finance published, on February 10 2012, a new draft law that regulates the statistical activity with regards to the intra-community trade with goods between the Republic of Bulgaria and the EU member states, which includes the movement of goods, such as those leaving from and arriving within the territory of the country. The new draft formalises the relationship between Bulgaria and the EU and also provides links to the relevant EU regulations. Before specifying, in brief, the proposed changes to the law, which entered into force on July 1 2012, it would be useful to be reminded of two of the most important definitions related to this law: "Operator" in the context of the law before the changes, was every person carrying out trading intra-community activities with goods, while the term "goods" is used for all movable commodities, including electric energy.

Bryan Bailey

David Cuellar

Gerry Thornton

Sandra Fleurier

Mihaela Bucurenciu In April 2012, by the European Union Council Decision of 26 April 2012 (decision), Romania was authorised to limit at 50% the VAT deduction right related to domestic and intra-Community acquisition, import, hire or lease of certain motorised road vehicles, if such vehicles are not used exclusively for the business purposes of the company. Furthermore, Romania is authorised to apply the 50% limitation to input VAT charged on expenditure related to these vehicles, including the purchase of fuel. As mentioned in the preamble of the decision, Romania motivated the introduction of such measures considering the non-business use of vehicles is difficult to be identified accurately and even where this would be possible, the mechanism for doing so is often burdensome. As such, Romania believes that a flat rate percentage of 50% for vehicles that are not exclusively used for business purposes is justifiable.