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Michael McGowan has left Shearman & Sterling in London to join Sullivan & Cromwell in the same city.

The upcoming abolition of capital duty and the decrease of the corporate income tax rate will make Luxembourg even more attractive as a holding company jurisdiction say Samantha Nonnenkamp and Keith O'Donnell of Atoz Tax Advisers, Taxand

Multinational companies, especially in the energy and extractive industries, are playing a significant role in structuring the tax systems in emerging countries. Joanna Faith discovered how businesses balance their commercial objectives with a wider role in helping with governments

The 2008 Budget has amended India's service tax laws. R Muralidharan and Anita Rastogi of PricewaterhouseCoopers assess the benefits for manufacturers and providers

Srinivasa Rao and Rajendra Nayak of Ernst & Young explain the structuring of cross-border transactions in India

Samir Haouari Veerle Coussee In the framework of the 2008 budget discussions, the Belgian federal government has the intention to subject the sale of land in certain circumstances to VAT (21%). This implies a significant change in the current legislation, which foresees that the sale of land is under any circumstances exempt from VAT but subject to registration duties (10% or 12.5%, depending on the competent region). As the application of VAT in principle implies an exemption from registration duties, the regions will have to limit their scope of competence to impose registration duties on the sale of land.

Rajendra Nayak Ganesh Pai The Uttarak-hand high court (HC) in the case of Sedco Forex International Inc vs CIT (reported in 214 CTR 192) examined the taxability of mobilisation fee received by a non resident taxpayer (taxpayer). The taxpayer had entered into an agreement with an Indian company for supply and operation of drilling units/rigs on hire and for providing personnel for operating such units. Under the provisions of section 44BB of the income-tax Act, 1961 (Act), 10% of the aggregate amount received by a non-resident taxpayer for providing services and facilities in connection with the supply of plant and machinery on hire, which is used in the prospecting for or extraction or production of mineral oil in or outside India is deemed to be profit on which tax is payable. Section 44BB of the Act is a fictional taxing provision which 'deems' certain amounts as income, for bringing the same under the tax net. The taxpayer was assessable to tax under section 44BB of the Act.

Berwin Leighton Paisner (BLP) has appointed Michael McKenna as partner in the firm's tax practice. McKenna joins from Goldman Sachs International where he was tax counsel advising on all aspects of their businesses and transactions outside of the USA.

With its wide tax treaty network, EU membership, and low taxes, Cyprus is a seductive prospect for international firms, says Paul Mallis of Deloitte

Sweden is an interesting alternative to the more traditional holding company locations, say Carl Pihlgren and Sara Bolmstrand of Ernst & Young