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Australia has made changes on the taxation of trusts a year after a high court ruling found uncertainties and longstanding problems with the country’s tax law.

French law firm, FTPA, has expanded into tax with the appointment of Nicolas Message as partner.

Chancellor George Osborne has been given clearance by the European Commission to expand the Enterprise Investment Scheme (EIS) by increasing the tax breaks available to companies that qualify. The expansion has been valued at £100 million ($155 million).The Treasury this week stated that high growth companies have created over 54% of all jobs in companies with more than 10 members of staff. The new measures are planned for implementation in April 2012 as the government seeks to spark life into the economy and support private sector growth.

A panel of advisers, taxpayers and government officials, at International Tax Review’s 11th Global Transfer Pricing Forum last week, discussed the challenges involved in dealing with financial transactions.

Week eight of the Supreme Court hearing saw the tax department begin their arguments by claiming that the sale of the share from the Cayman Islands company was nothing but an “artificial tax avoidance scheme”.

Giving the keynote address to Green Budget Europe’s annual conference, hosted by the European Environment Agency in Copenhagen, Connie Hedegaard, EU Climate Action Commissioner, called for binding targets and a shift from tax on labour to environmental taxation.

Two rulings from India have highlighted the critical importance of making a detailed functional and factual analysis for both determinations of a permanent establishment (PE) and also for correctly attributing profits to a PE.

International Tax Review's 11th Global Transfer Pricing Forum heard how the OECD’s project on the administrative aspects of transfer pricing could make life simpler for taxpayers and authorities in overcoming disputes.

International insurance company American International Group (AIG) has appointed former IRS deputy chief counsel, technical, Clarissa Potter, as its deputy tax director.

The Mirrlees Review, published last week by the Institute of Fiscal Studies (IFS), calls for wide ranging reform of the UK tax system. The review, led by economist and Nobel laureate, Sir James Mirlees, argues that growth rates and future living standards could be greatly improved by a system that is less "complex inefficient and unfair".