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Just like their global counterparts, Russian taxpayers are discovering that they are undertaking more and more debt restructuring. But as Ruslan Vasutin of DLA Piper explains, the Russian government is offering a number of ways to successfully undertake this essential business task.

As the financial crisis takes its toll on countries in Europe, North America and Asia and with aid budgets under pressure, attention has turned to tax as a means of financing development in poor countries. Do tax directors have a part to play in this? And is there a business case for helping poor countries raise tax revenue? David McNair of Christian Aid of the UK looks at the debate.

Ireland has extended its withholding tax exemption on royalty payments after extensive consultation with industry. It is a further step toward making Ireland an attractive jurisdiction for multinational investment. Sophie Ashley finds out why.

The tax landscape has changed dramatically in the 21 years International Tax Review has been published. Two of the contributors to the first issue highlight the impact the European Court of Justice has made.

The decade-long litigation between Vodafone and HM Revenue & Customs over the UK’s controlled foreign companies legislation was the pretext for a demonstration by more than 40 protesters, which closed the company’s store, on Oxford Street in London last week.

Janne Juusela The taxation working group, appointed by the Ministry of Finance and led by Mr Hetemäki, has in its intermediate report (35/2010) proposed key changes to taxation. The main themes of the intermediate report are widening the tax base, lightening the taxation of work and shift of focus from direct taxes to consumption taxes. The focus of income tax is proposed to be slightly shifted from taxation of corporate earnings to taxation of personal capital income. The key points of the working group report are presented in brief in the following.

Ian Farmer On October 1 2010, the Policy Transition Group (PTG), formed to advise on the technical design of the proposed minerals resource rent tax (MRRT) and expanded petroleum resource rent tax (PRRT) (collectively the resource taxes), released an Issues Paper as the first step the consultation process for the design and implementation of the proposed resource taxes which will apply to all Australian iron ore, coal and oil and gas projects from July 1 2010.

As International Tax Review celebrates its 21st birthday in November 2010, Erin Kelechava takes the opportunity to look back at a selection of the notable events in tax since 1989.

To mark the 21st birthday of International Tax Review in November 2010, the editorial staff of the magazine decided to choose the 21 most influential people or organisations in tax today.

Gavan Ryle and Barbara Dooley of PwC reflect on the impact of the new Irish transfer pricing rules, examine what the new rules really mean for taxpayers and look at the approaches adopted by multinationals as they prepare for the rules coming into force.