It may be the summer time in the northern hemisphere, but this doesn't mean that jurisdictions are taking a break from considering complex issues that may have far-reaching consequences for taxpayers. Courts in Australia, in the Roche case, and Canada, in the case of Glaxo Canada, have handed down judgements in transfer pricing cases that pharmaceutical companies in particular will be watching closely. Another US senator has produced a draft international tax reform bill aimed at keeping jobs in the US by removing some tax reliefs for foreign companies. And UK-resident multinationals continue their discussions with the British government on how the taxation of foreign profits regime should change - if it has to change.
June 30 2008