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Paulo Núncio The Portuguese government recently approved a Bill, yet to be voted in Parliament, which establishes a special taxation on bonuses paid out by companies to any executive ceasing their contract.

Suzanne Boers The Dutch Supreme Court recently passed judgement on a case regarding, among other things, the need for corresponding valuation of assets for tax purposes.

Anton Prawira With the increasing global awareness of controlled foreign corporations, the Indonesian government has started to strengthen the rules governing them. The new income tax law (law no. 36 of 2008) includes provisions that set out ways to identify transactions between related parties in order to prevent transfer pricing.

Paul Chambers Samantha Nonnenkamp Following unprecedented political pressure by the G20, Luxembourg has been forced to amend its banking secrecy rules.

Akio Takisaki On February 24 2009, in response to questions posed by the Ministry of the Environment and the Ministry of Economy, Trade and Industry, Japan's National Tax Agency (NTA) confirmed the tax treatment of domestic emission allowance trading, helping to provide greater certainty over domestic transactions involving the physical transfer of emission allowances.

Rajendra Nayak Ganesh Pai The Delhi income-tax appellate tribunal (ITAT) in the case of Dolphin Drilling Ltd (121 TTJ 433), recently examined the applicability of withholding tax provisions on reimbursement of salary of seconded employees.

Paolo Giacometti The Italian tax authorities recently issued further guidance relating to the business test exemption provided for under the controlled foreign company regime (CFC regime).

The deputy prime minister and minister of finance and economic empowerment, Ramakrishna Sithanen, presented his budget on May 22 2009 which appropriates funds for the six month ending December 2009.

Bob van der Made Progress on a new proposal by the European Commission for a directive on a common consolidated corporate tax base (CCCTB) now seems highly unlikely in 2009 and even the first half of 2010. The Commission has relieved the head of its CCCTB task force, Thomas Neale, who has become the new head of unit E1: analysis and coordination of tax policies, although Neale also remains as acting head of the CCCTB task force for the time being. The outgoing Commission will be reluctant to take any decisions that are controversial and which could stand in the way of any (re)election bids of Commissioners or any that it feels could be "better dealt with" by a new Commission with a fresh five year mandate.

John Leopardi Emmanuel Sala The Canadian federal and provincial governments levy corporate income taxes. Other than for the provinces of Quebec and Alberta, Canadian provinces have integrated their corporate income tax systems with the Canadian Income Tax Act (ITA).