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  • Owens resists blaming tax havens for economic downturn
    by Joanna Faith in Brussels
    April 30 2009
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    Spanish structuring and back-to-back financing developments
    Froso Alexandrou Within the framework of royal decree 1080/91 of July 1991, as amended by royal decree 116/2003 of January 31 2003, Spain listed a number of jurisdictions which may be regarded as tax havens, among them Cyprus.
    April 30 2009
  • Ashurst promotes one
    Law firm Ashurst has promoted Paul Miller to partner in its international tax practice in London. Miller focuses mainly on structured finance, investment funds and real estate tax issues. The appointment takes effect from May 1.
    April 30 2009
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    Decree offers repatriation benefits
    Roberto del Toro Karina Perez Given the situation of the global economy, the Mexican tax authorities issued on March 27 2009, a new capital repatriation decree which repeals the two former decrees (1995 and 2005 decrees) to grant tax benefits with respect to investments repatriated to Mexico.
    April 30 2009
  • VMW Taxand takes three from Deloitte
    Dutch law firm Van Mens & Wisselink, now VMW Taxand, has strengthened its tax department with the addition of three lawyers from Deloitte in Amsterdam. Roelof Vos joins the firm as a partner and head of the tax law department, along with two associates. Vos is an indirect tax adviser.
    April 30 2009
  • BMR Advisors adds three new partners
    Indian tax firm BMR Advisors-Taxand has appointed three new tax partners. Gagan Malik has become partner in the firm's direct tax practice and will lead the firm's office in Singapore. Anurag Jain joins the same practice and will be based in New Delhi. Mahesh Jaisingh has been appointed to the company's indirect tax practice based in Bangalore.
    April 30 2009
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    Exemption for select credit guarantee institutions announced
    Stephen Nelson Aiming to support small and medium-sized enterprises to survive the global financial crisis, the Ministry of Industry and Information Technology and the State Administration of Taxation jointly issued the notice on business tax exemption for small and medium-sized enterprise credit guarantee institutions (Gong Xin Bu Lian Qi Ye [2009] number 114) on March 31 2009.
    April 30 2009
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    Tax deduction for final losses in subsidiaries within the EEA
    Rikard Ström Weronica Sjöberg On March 11 2009, the supreme administrative court issued judgments in 10 cases regarding the Swedish group contribution system, which is the Swedish method of group relief, and its compatibility with the EC treaty with respect to losses in group entities within the EEA.
    April 30 2009
  • Revolutionary VAT changes for taxation of services from 2010
    After years of negotiation, the European Council has finally reached a political agreement on the changes proposed in the VAT package. The aim of this VAT package is to minimise the administrative burden for companies engaged in cross border trade, to ensure that VAT on services accrues to the country where consumption occurs and to prevent distortions of competition between member states operating different VAT rates.
    April 30 2009
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    VAT rate increase for the benefit of the IV (disability insurance)
    Niklaus Honauer The popular vote on the VAT rate increase will definitely take place on September 27 2009. The rates are to be increased as follows:
    April 30 2009
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