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On July 12 2011, Senator Carl Levin once again introduced his latest version of the Stop Tax Haven Abuse Act (Bill). Representative Lloyd Doggett recently introduced the same legislation in the House.

Mexico, with the largest treaty network in Latin America, signed a new tax treaty with Hungary at the end of June.

Sead Dado Salkovic On July 27 2011, the Montenegro government adopted a new decree outlining the criteria and methodology in determining the exact market value of real estate.

This time last year, International Tax Review noted a trend in rising VAT rates around the world. Today that trend continues, but opposition is also increasing with calls for cuts in some countries, and new exemptions in others as governments look to stimulate sectors of their ailing economies. Salman Shaheen investigates.

Elena Kostovska Earlier in 2011, the FYR Macedonian government signed a treaty for the avoidance of double taxation and prevention of fiscal evasion with Norway. Norway has recently (June 2011) ratified the treaty which pertains to taxes on income. The taxes covered include the personal income tax and profit tax in FYR Macedonia as well as the taxes on income, remuneration of non-resident sportsmen and artistes in Norway. For the Norwegian tax framework, the treaty will also cover the resource rent tax on income from the production of hydroelectric power.

Jobst Wilmanns Yu Tao The finance ministry has drafted a bill to amend the transfer pricing provision of the Foreign Tax Act. Its primary aim is to extend the arm's-length pricing requirement to transactions between permanent establishments and between partnerships and partners. This follows the current OECD trend towards equating a PE with a separate entity and represents a radical departure from the traditional German legislative and, in particular, judicial view of a PE as part of the parent vehicle with which it cannot contract.

Janne Juusela The Finnish Supreme Administrative Court (SAC) gave on April 27 2011 a preliminary ruling (KHO:2011:42) based on which a Singaporean subsidiary could not be treated as a controlled-foreign company (CFC) in the taxation of a Finnish company in tax year 2009.

Wendy Nicholls and Paul Smith of Grant Thornton UK welcome the new patent box proposals but believe the take-up may be limited because of the restriction to patents (rather than other intellectual property too), the highly complicated calculation of patent box profits, and potentially more favourable regimes within Europe.

The report has revived the debate on tax avoidance

Welcome to the first issue of a new look International Tax Review.