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  • Cyprus is a low-tax jurisdiction. It's economic and regulatory regimes follow the code of conduct for business taxation, comply with the requirements of the OECD and adopt EU directives.
  • Nélio Weiss Philippe Jeffrey The Brazilian tax authorities issued, on May 13 2008, provisional measure 428 (PM 428) which extended specific tax incentives and modified some criteria of special tax regimes. These incentives, enacted back in 2004, are available mainly to exporting local entities and also to the information technology (IT) industry. Some changes set forth in PM 428 can be summarised as follows:
  • Andrés Edelstein Ignacio Rodríguez Foreign exchange regulations have been one of the main concerns for foreign investors wanting to develop activities in Argentina in recent years.
  • The job of a tax executive in the Asia-Pacific region has just got more complex with the introduction of a new corporate tax system in China. This was only one of the issues that tax professionals tackled at the Asia Tax Forum in Singapore
  • Clemens Hasenauer Johannes Prinz The Austrian parliament has passed new legislation (Schenkungsmeldegesetz 2008) which has introduced several major changes in Austrian tax law as of August 1 2008. Some of them are highlighted below.
  • Freshfields Bruckhaus Deringer won the European Tax Firm of the year award at the European awards dinner in London
  • Hassan Khan and Michelle Sloane, of The Khan Partnership, endorse the reform of tax tribunals in view of current weaknesses and an under resourced system
  • Michael Cullen Businesses in New Zealand will have fewer tax returns to complete if proposed tax changes, announced in the country's budget on May 22, are agreed by parliament next month. Finance minister, Michael Cullen and revenue minster, Peter Dunne said the new tax legislation is the first phase of the government's review of measures to reduce tax-related compliance costs for businesses.
  • Robert Wilkerson has joined the Atlanta office of international law firm, King & Spalding, as a partner. He focuses on structural and transactional tax planning matters. He joins from KPMG.
  • Edward Tanenbaum Diana Wessells The Treasury has issued final regulations under section 1446 that provide guidance on how a partnership may reduce its section 1446 withholding requirement by taking into account certain types of deductions and losses passed through to a foreign partner, and that provide rules on how a foreign partner may certify its allocable share of deductions and losses.