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Edward Tanenbaum Tola Ozim On January 5 2011, US Congressman Lloyd Doggett introduced The International Tax Competitiveness Act of 2011 (HR 62), in order to "reduce international tax avoidance and restore a level playing field for American businesses." The legislation, which would treat a foreign-organised corporation that is managed and controlled in the US as a US corporation, is identical to the "managed and controlled" provision included in previous bills (the 2009 Stop Tax Haven Abuse Act and the International Tax Competitiveness Act of 2010).

By Hans-Martin Jørgensen and Nick Pearson-Woodd, Deloitte, Oslo.

Rajendra Nayak Ganesh Pai India's finance minister presented the Union Budget for 2011 on February 28 against the backdrop of swift and broad based growth achieved in 2010-11. On the corporate taxes front, no big ticket announcements were made and instead a perfect middling ground was paved to provide the right momentum to achieve the direction and focus as envisaged in the two new legislations – the Direct Taxes Code (DTC) and the goods & services tax (GST), respectively, which will consolidate and replace the existing legislations. While the DTC is expected to come into force from April 1 2012, a constitutional amendment bill to introduce the GST is proposed to be presented in this budget session of parliament.

Paulo Núncio Miguel Pimentel The Portuguese budget law for 2011 introduced several amendments to Portuguese corporate and personal income taxation. One of those amendments concerns the taxation of capital gains realised by non-residents.

Herbert Smith is set to expand its tax disputes, risk management and advisory practice with the hire of Rupert Shiers as partner from May 2011.

Jerry Smith has joined Jones Day in Atlanta as a tax partner.

Myranda Chatzimatthaiou Natasha Mavrommati On February 18 2011 Cyprus and Germany signed a new agreement that will replace the existing agreement from 1974.

Akira Akamatsu Jun Sawada The 2011 tax reform, proposed by the Japanese government on December 16 2010, is expected to have significant impact on the transfer pricing practice, also taking into account the 2010 tax reform, which codified the transfer pricing documentation requirement.

Janne Juusela The Finnish Supreme Administrative Court (SAC) decided on January 31 2011 (KHO:2011:10) to ask for a preliminary ruling from the European Court of Justice (ECJ) concerning the question whether a tax neutral share exchange can be completed between a company residing in an EU country and a company residing in an European Economic Area (EEA) country such as Norway, Iceland and Liechtenstein.

Vladimir Kotenko The first two months of 2011 saw passage of a number of routine by-laws that are provided under miscellaneous tax code provisions. These cover tax registration rules, the procedures for tax audits, reconciling tax liability and filing tax information, the proper forms for tax accounting documents and reports and other matters. More regulations are expected to come in the nearest future.