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  • The Mumbai Income Tax Appellate Tribunal has ruled that when determining the arm’s-length price of an international transaction, transfer pricing officers (TPO) must apply transfer pricing methods in accordance with the manner in which they are prescribed in the country’s transfer pricing rules.
  • Advisers from Machado Associados summarise the new Brazilian transfer pricing rules and tax deductibility requirements.
  • The Australian government has today unveiled an updated framework for tax reform measures that will be introduced this year.
  • Alistair Darling, the chancellor of the exchequer, has released the tax framework for UK business which sets out the government's plans for improving simplicity, stability and certainty while reducing compliance costs in the business tax arena.
  • Both X Holding BV and its Belgian subsidiary applied for recognition as a single tax entity, but the Dutch authorities refused because the subsidiary was not established in the Netherlands. The Dutch Supreme Court asked the ECJ: does EC law prohibit member state rules that allow a parent company and its subsidiary to be treated as a single taxpayer but which restrict that option to companies taxed in that member state?
  • Articles 43 EC and 48 EC; refusal to grant the company the possibility of forming a single tax entity with a non-resident subsidiary; avoidance of double taxation concluded between Belgium and the Netherlands; prevention of tax evasion; taxes on income and wealth; the double taxation agreement;
  • Hasnain Shroff, A Pradeep and Vinita Chakrabarti highlight the key transfer pricing aspects that need attention in the forthcoming Union Budget 2010.
  • An eagerly awaited UK transfer pricing case will not now go to court.
  • The controversial proposals would introduce a flat corporate tax rate of 24% and streamline the tax code while at the same time making significant changes to well established international tax laws.
  • Hong Kong's budget failed to deliver any significant tax changes, focusing rather on the extension of existing tax rules.