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Immature tax and regulatory rules mean that investment in Ukraine is only for hardened risk takers. However, the new government should give investors hope that things may change, say Viktor Nevmerzhitsky and Andriy Dovbenko of Ernst & Young

The incorporation into local law of the EU merger directive has created the possibility of tax-neutral international mergers using Cyprus, explains Sophie Stylianou of Eurofast Taxand – Cyprus

Dieter Wirth and Mohamed Serokh of PricewaterhouseCoopers in Switzerland look at how multinationals such as banks and insurance groups operating in Zurich have been treated during tax audits focusing on the different transfer pricing methods

Bob van der Made The new EU tax commissioner, Algirdas Semeta presented his work programme to EU finance ministers at the ECOFIN Council on February 16 2010.

Tax concepts, such as consolidation, that are familiar in other jurisdictions are unknown in Russia. That makes it important to consider the tax aspects of each M&A transaction in Russia carefully, explain Reece Jenkins and Evgeny Bezlepko of Ernst & Young

Tax and other rules for doing business can change frequently in Kazakhstan. Foreign investors need to be aware of the authorities' approach to areas such as capital gains tax, CFC rules and transfer pricing when planning a transaction there, report Erlan Dosymbekov and Jahangir Juraev of Ernst & Young

It is reassuring that the legislature has come up with tax relief measures to support companies in managing the crisis, although the new provisions are not exhaustive, explain Michael Hartmann, Klaus Schmidt and Christian Tempich of PricewaterhouseCoopers

Getting off the blocks

Hatasakdi Na Pombejra Kititat Tungsuwan At present, international tax issues about the tax implications of certain satellite services provided by a satellite operator such as transponder services, internet connection services, and backhaul services concern whether earnings from such services should be regarded as service income/business profit or income from royalty for corporate income tax purpose. According to the recent discussion draft on tax treaty issues related to common telecommunication transactions by OECD (discussion draft), it can be deduced that, payment made by customers under typical "transponder leasing" agreements are made for the use of the transponder transmitting capacity and will not constitute royalties, but would therefore be in the nature of payments for services which constitute a business profit.

The interest for taxpayers in this year's Indian budget came in the proposals to amend existing legislation, such as source rules for non-residents and the tax treatment of a conversion into a limited liability partnership, reveal Vispi Patel and Rajesh Athavale of Vispi T Patel & Associates, Chartered Accountants