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Eighty-three of the 100 largest publicly traded US companies had subsidiaries in multiple tax havens in 2007, said a report by the US Government Accountability Office (GAO).

VAT rates in Hungary look set to be raised as the country braces itself for a substantial budget deficit in 2009.

Japan’s National Tax Agency (NTA) has issued a series of amendments to its existing administrative guidelines on transfer pricing, as well as the accompanying reference case studies.

Thailand has concluded its first two bilateral advance pricing agreements (APA) seven years after transfer pricing guidelines were introduced to the country.

The Indian division of Bunge, a US food company, has been ordered to pay additional taxes due to a transfer pricing-related indiscretion. The Indian income tax authority has said the company may also face a penalty for concealment of income

The European Commission has told tax advisers, tax authorities and business representatives that only 13 out of 27 member states are actively cooperating in EUROFISC, a European network for closer operational cooperation between member states in the fight against VAT fraud.

The US and France have signed a protocol that on ratification will update the current US-France income tax treaty. The January 13 protocol will make several changes to the existing agreement including the elimination of source-country taxation of certain parent-subsidiary dividends, ending source-country taxation of cross-border royalty payments and strengthening the limitation of benefits provision. The protocol also provides for mandatory arbitration of certain cases that cannot be resolved by the competent authorities and updates the rules for exchange of information between the tax authorities.

The Delhi Supreme Court has rejected a Vodafone appeal in an action over a tax bill from the company's acquisition of a controlling stake in Hutchison Essar in 2007

Textron has won a judgement in a US appeals court over the privilege attached to discussions it had with its advisers

The Singapore government has made a bold move to try and reduce the costs of doing business in the country in its 2009 budget . Despite being in a recession, the government has announced tax cuts and record levels of spending.