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Vladimir Kotenko On July 8 2010 the Ukrainian Parliament adopted a resolution obliging the cabinet of ministers to pass the draft tax code for public discussion.

Gary Thomas The National Tax Agency has amended its transfer pricing guidelines to issue to its transfer pricing examiners concerning the implementation of Japan's new transfer pricing documentation rules as well as examinations of transactions involving joint venture companies.

Marta Szafarowska Since a VAT was introduced in Poland in 1993 all goods and services subject to reduced VAT rates as well as exemptions have been defined through their statistical classification.

Ugo Cannavale Transfer pricing documentation provisions have been included in Law number 122 published in the Official Gazette on July 30 2010.

Joe Duffy Gerry Thornton Under a recently issued statement of practice, the Revenue Commissioners in Ireland have extended the exemption from Irish withholding tax for cross-border patent royalty payments. This development is a welcome step in enhancing Ireland's status as a location in which to develop, exploit and manage intellectual property (IP).

Eiki Kawakami of Kojima Law Offices-Taxand looks back at a busy few months for the Japanese tax system. Politics and disputes have been keeping taxpayers busier than ever with a number of important decisions making many think twice about how they structure their work.

Goh Ka Im, Anand Raj and Irene Yong of Shearn Delamore & Co detail how several legislative changes have changed the way investments can be structured, particularly from the Federal Territory of Labuan.

Ronald Evans and Gustavo Sánchez discuss Venezuela's complex rules and explain that taxpayers must strive to comply with the legislation or face heavy penalties.

Augusto Martín Camarero and Armando Cabrera describe the way Argentine transfer pricing rules still fall behind more developed tax codes. The lack of advance pricing agreements and quasi acceptance of secret comparables cause problems.

Over the last decade, Latin America has shown economic growth, commercial development and financial stability. Additionally, countries throughout the region have modified their regulations, implementing internationally accepted rules. Emerging economies in this region have been attracting foreign direct investment as never before, and Latin American corporations are nowadays renowned worldwide for their presence in different markets and for carrying out intercompany transactions that increase as globalisation does.