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  • India's Authority for Advance Rulings has held that capital gains arising from the transfer of shares from a Mauritius to an Indian company is not liable to tax.
  • Tarsem Basran is leaving the London office of TMF VAT & IPT Services to join its New York global insurance premium tax compliance team.
  • Passarella Abogados is a new firm in Buenos Aires that has been set up by Leandro Passarella, a well-known tax lawyer. He advises corporations on the Argentine tax implications of M&A transactions, reorganisations and leveraged buy-outs, and the tax-efficient structuring of businesses and start-ups in general. He also designs tax structures for regional transactions and operations. His practice includes the legal assistance to clients in tax audits and litigation.
  • In March 2010 HM Revenue & Customs (HMRC) released an update of the guidance in its International Manual on the UK’s thin capitalisation rules. This guidance is prepared primarily to assist inspectors of taxes in applying the thin cap legislation, but also offers useful insights into HMRC policy for taxpayers and advisers.
  • Polish taxpayers have been sent a strong warning after the country’s tax authorities confirmed that they will focus their 2010 audit work on transfer pricing and its associated issues.
  • The deadline for interested parties to submit comments on the new disclosure requirement that would affect many US companies with international dealings has been extended until June 1 2010.
  • New transfer pricing rules included in the tax reform package announced by the Japanese Ministry of Finance in December finally came into effect on April 1.
  • Namibia is set to cut the corporate tax rate for non-mining companies as well as make important changes to withholding tax rules on interest.
  • The German government plans to introduce R&D tax incentives to attract and sustain investment in the country and also to comply with an EU-wide R&D initiative.
  • A survey by accounting firm KPMG found 82% of respondents said they faced the same level of transfer pricing controversy as last year. In Spain there was a significant increase, however.