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M&A tax rules finally issued

Stephen Nelson On April 30 2009, the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) finally issued the long-awaited M&A rules pursuant to the enterprise income tax (EIT) law. The new M&A rules are entitled enterprise income tax treatment of reorganisation transactions (Cai Shui [2009] number 59).

June 30 2009

Ruling Commission revising its points of view

Dirk Van Stappen The Belgian Ruling Commission continues to play a key role in offering taxpayers and (potential) foreign investors certainty on a wide variety of tax issues. In these turbulent times obtaining certainty on the tax treatment of various aspects of a company's business is a precious asset as it avoids nasty surprises and unexpected cash-outs.

June 30 2009

2009 Australian federal budget

Ian Farmer On May 12 the Australian treasurer announced the 2009 budget. This was the first budget for many years that was developed in the context of a domestic economic recession. Australia now faces a A$32.1 billion ($25.5 billion) forecast deficit for 2008-09, compared to the $19.7 billion surplus last year. Real GDP is not forecast to grow again until 2010-11. For the business community, significant proposed changes in the federal budget will see the following tax changes of interest:

June 30 2009

Recent changes in Austrian tax law

Clemens Hasenauer Johannes Prinz The Austrian parliament has recently passed an amendment to the Austrian corporate income tax act (Budgetbegleitgesetz 2009) providing for various changes in the Austrian tax system.

June 30 2009

US proposals may transform competitive landscape

The new US administration is proposing dramatic changes to the international tax provisions in the tax code. Barbara Angus, Eric Oman and Rob Kulik of Ernst & Young discuss the latest developments.

June 30 2009

New South Wales move creates stamp duty concerns

Taxpayers should be aware of the change from land rich to landholder duty in New South Wales. The new rules could apply to a variety of transactions, warns Costa Koutsis of Baker & McKenzie

June 30 2009

Recession opens the door for Islamic finance

The slowdown in the demand for conventional financing thanks to the economic downturn has left debt and equity issuers considering alternative methods, such as Islamic finance. Joanna Faith finds out if governments outside the Muslim world are doing enough with their tax legislation to make this new approach a viable option.

June 30 2009

Thailand incentivises corporate debt restructuring

Hatasakdi Na Pombejra of HNP Counsel Taxand discusses the tax relief the government has put in place to help debt restructuring during the economic downturn

June 30 2009

Erosion of remittance basis revives source issue

Ong Sim Ho and Ong Ken Loon of Drew & Napier explain the effects of changes to Singapore's rules on the remittance basis

June 30 2009

Rules needed to clarify transfer pricing landscape

Transfer pricing rules are on the way in Malaysia. Until then there is some ambiguity about how existing law applies to related-party transactions, say Anand Raj and Irene Yong of Shearn Delamore & Co

June 30 2009

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