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Whether a largely exempt taxpayer adopts an asset leasing structure involving a third party to obtain a tax advantage.

Panama's attempts to convince other countries that they are serious about complying with the international standard on the exchange of tax information were dealt with a significant blow when the OECD refused to allow it to proceed to the second stage of the international peer review process.

Steven Shay, the deputy assistant secretary for international affairs at the US Department of Treasury, explained the US government's comprehensive strategy to close the tax gap at the Tax Executive Institute's annual meeting on October 26.

Chia-yi Chua has joined Canadian law firm McCarthy Tétrault as partner in the Toronto office.

"The IRS you think you know may no longer exist," said Steven Miller, IRS Deputy Commissioner for Services and Enforcement, at the Tax Executive Institute's annual conference on October 25.

Type of Agreement Country Country Date Signed Double Tax Agreement Protocol Bahrain Malaysia October 14 2010 Tax Information Exchange Agreement Argentina Italy October 15 2010 Double Tax Agreement Panama Singapore October 18 2010 Double Tax Agreement Switzerland Uruguay October 18 2010 Double Tax Agreement Ratification Greece Morocco October 19 2010 Tax Information Exchange Agreement Germany St Kitts and Nevis October 20 2010 Double Tax Agreement Panama South Korea October 20 2010 Tax Information Exchange Agreement France Hong Kong October 21 2010 Tax Convention Amendment Canada Switzerland October 22 2010 Tax Information Exchange Agreement Isle of Man China October 26 2010

TEI has presented a list of suggestions about the Foreign Accounts Compliance Act (FATCA) to the IRS in a 23-page letter, in the hope of improving the programme for both taxpayers and the government.

The much-anticipated start of Vodafone's Supreme Court battle in India has been adjourned until November 15.

UK banks will avoid paying £19 billion ($30 billion) tax on future profits by offsetting their losses, incurred during the financial crisis, against their tax bills, despite being bailed out by the taxpayer to the sum of £850 billion, says a report by the TUC.

This week's budget review from the European Commission includes a brief discussion of possible options for EU taxes. A corporate income tax, and new environmental and financial sector taxes were among the suggestions.