Search results for

Mark Mendola has been named as PwC's US tax leader, and as a vice chairman of the firm. He succeeds J Richard Stamm, who is named vice chairman, tax, for the PwC network.

Sullivan & Cromwell has promoted Nicolas de Boynes to partner. He practices tax law mainly in relation to cross-border M&A, structured products and capital markets.

Next year will be challenging for the European Commission as it presses ahead with its plans to reform the EU’s VAT system, revise the Energy Tax Directive and implement a financial transactions tax. In an exclusive interview, Algirdas Šemeta, European Commissioner for Taxation and Customs Union, Audit and Anti-Fraud explains how he will be keeping taxpayers busy in 2012.

Microsoft’s Form 10-K filing with the Securities Exchange Commission (SEC) shows the company’s effective tax rate in the US is just over half the statutory tax rate. But how has it managed to achieve this?

Tax invoice is one of the most important documents that must be issued by any enterprise that is required by law to collect VAT when they sell VAT-taxable goods or services.

According to recent market reports, the purchase price of residential property per one-square-metre in Banja Luka has decreased by 35% in the past six months where, on the other hand, in the Sarajevo canton, the prices have increased.

The Romanian law has not yet adopted the concept of trust as it is used in the common law jurisdictions.

Slobodan Mihajlovic Entering into management services agreements (MSA) is a common method of extracting profits or income from a subsidiary. With MSA in place it is generally a usual practice that the parent company uses some of its own employees to oversee the activities of the Serbian subsidiary. This can be done in the form of assigning expatriate employees to the Serbian subsidiary or could be just reviewing and assisting the subsidiary’s work from abroad. In all cases, costs of this workforce as well as services provided are being charged to the Serbian subsidiary.

Sean Foley Landon McGrew The Internal Revenue Service (IRS) recently released final regulations clarifying that a disregarded entity, which is treated as a corporation for employment tax purposes, will also be treated as a corporation for tax administration purposes related to employment taxes (TD 9553). The new regulations finalise proposed regulations that were issued in September 2009 and remove the corresponding temporary regulations. The final regulations are generally effective retroactively to the date of the proposed regulations; September 14 2009.

Janne Juusela 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. The intention of the government was both to support the competitiveness of the Finnish industry and to improve employment and purchasing power. The suggestions were made in addition to the recent government’s Bill relating to the budget for 2012, suggesting several changes in different tax areas.