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  • Bulgaria's parliament has approved plans to introduce tax holidays for significant corporate investments.
  • HM Revenue & Customs in the UK will close 93 offices across the country and cut over 3,400 jobs by 2011, said the Public and Commercial Services (PCS) union which represents over 70,000 HMRC employees.
  • American financial advisory and investment banking firm Duff & Phelps has added two managing directors and a team of ten professionals to its tax services practice in New Jersey.
  • The UK tax authorities have published a re-worked version of the corporation tax bill.
  • Freedom to provide services – Freedom of establishment − Tax legislation − Investment premium − National legislation conferring a tax advantage only on assets used in a domestic place of business − Exclusion of assets hired out for remuneration primarily used in other member states − Leasing of vehicles − Prevention of abuse.
  • PricewaterhouseCoopers has recruited Kevin Brown as a partner and leader of the national IRS service team based in Washington DC. He joins from the American Red Cross where he was chief operating officer.
  • Following an amendment to the draft law entitled “Market Supervision Authority and other provisions” submitted to the Greek parliament, rules are being introduced for auditing transfer pricing in inter-company transactions. The rules are based on the OECD arm’s length principle
  • Vodafone is faced with a multi-billion dollar tax bill in India after it lost a case in the Bombay High Court concerning its purchase of a controlling stake in an Indian phone business
  • HM Revenue and Customs is to introduce corporate tax legislation that amends the loan relationships rules affecting connected companies
  • Chinese officials finally announce details of the changes to be made to transfer pricing rules