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  • IBM’s 2010 Global Locations Trends report ranked Ireland 1st in global inward investment per capita. This is a continuation of its ranking in previous years. Conor O’Sullivan of KPMG describes the factors that make it competitive to exploit IP in Ireland
  • The decision on intercompany debt funding has been made by the New Zealand High Court in Alesco New Zealand Ltd v CIR.
  • China has underlined its determination to strengthen its anti-avoidance rules by concluding the country’s first thin capitalisation audit.
  • The Supreme Court of Canada has named the date for the GlaxoSmithKline hearing, which will finalise the long-running transfer pricing dispute.
  • On November 11 2011, the European Commission (EC) outlined its 2012 strategy for combating double taxation and double non-taxation in the EU.
  • In October 2011, major Finnish trade unions and employers’ organisations agreed on the conditions of a new framework agreement. To support the tendencies of both parties, the Finnish government made suggestions regarding amendments in corporate and individual taxation.
  • Spain has concluded 83 tax treaties. There are 12 more tax treaties that have already been initialled or are awaiting parliamentary approval: Armenia, Azerbaijan, Belarus, the Dominican Republic, Hong Kong, Kuwait, Namibia, Nigeria, Peru, Senegal, Singapore and Syria.
  • On September 23, President Obama released draft legislation for economic growth and deficit reduction. Provisions that could increase taxes on multinational corporations are an important part of the plan. The plan includes the following international tax proposals:
  • The long awaited Taxation Laws Amendment Bill 2011 (Bill) was released on October 25 2011. This introduces various amendments, which are relevant in respect of cross-border transactions.
  • In a case brought by the European Commission (EC) (C-284/09 Commission v. Germany, judgment of October 20 2011), the European Court of Justice (ECJ) held that Germany’s withholding tax on dividends to other corporations is in breach of community law in that it discourages persons from abroad from investing in Germany.