Search results for

Leslie Morgan Edward Miller Recent additions to the Canadian Income Tax Act require, with retroactive effect, that Canadian tax results be determined using Canadian currency. Recent case law had called this proposition into question. The changes also require the conversion of any amount expressed in foreign currency that is relevant in computing Canadian tax results into domestic currency using the relevant rate of exchange quoted by the Bank of Canada at noon on the day on which the amount first arose, or such other rate of exchange as is acceptable to the minister of national revenue. The provision is retroactive and, absent ministerial discretion, rigid in the required method of conversion.

Lobbying the US government on changes to legislation is big business. In 2007, around $2.8 billion was spent in the battle to influence lawmakers, and taxation matters were high on the agenda, Catherine Snowdon finds out how in-house tax directors can get involved

Serge Bakoa, of HSTB law firm in Paris, sees only unpredictability on R&D tax policy in France

The Treasury Committee of the UK House of Commons is to hold an inquiry into offshore financial centres as part of its financial stability and transparency agenda.

Wayne Swan names names The Australian government has published the terms of reference for a review of the country's tax system.

A monthly commentary on the notable facts, figures and goings-on in the tax world, so called to give you a gentle exit from International Tax Review each month

OECD: plans to expand transfer pricing methods The OECD has published a set of industry responses to a consultation document on transactional profits methods in transfer pricing. Most of the respondents, such as big-four accountancy practices, international law firms, transfer pricing boutiques and industry trade bodies, backed the OECD line, although there was some debate over specific technical aspects of the proposals. In some areas advisers, in particular, wanted a requirement for more detail in reporting.

By Catherine Snowdon, Americas correspondent

By Bob Reynolds

By Catherine Snowdon in New York