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Jim Flaherty, Canada's finance minister, failed to help Canadian business taxpayers in last week's federal budget

A new energy tax bill passed by the House of Representatives on February 25 approved $18 billion in new taxes on the largest oil companies, while leaving in place a 6% deduction for Citgo, the Venezuelan state oil company

The New Zealand government is moving quickly to update legislation on the taxation of financial products to ensure the use of stapled securities does not erode the tax base

In a month when states all over Asia, such as Hong Kong, have been cutting their headline rate of corporate income tax, Palaniappan Chidambaram, India's finance minister, made no change to the Indian rate of 30% in last Friday's budget

Ceteris, a US transfer pricing firm, is opening an office in Mexico City through an exclusive arrangement with Ortiz, Sosa, Ysusi y Cia, a local law firm. Ricardo Suarez, the head of transfer pricing at Ortiz, Sosa, Ysusi y Cia, will lead the new group.

'Less is more' sums up the message from business groups and tax professionals to the UK finance minister ahead of the budget on March 12

Australia's Board of Taxation will review the taxation of managed funds in a bid to bring less complexity, more certainty and reduced compliance to the rules.

Business people in the City of London have cited "less consultation, more unwelcome surprise and more complexity" since the HMRC was created in 2005 as reasons why the UK tax system is becoming less competitive.

Barton Bassett has joined Morgan Lewis's Northern California offices from Fenwick & West. He will split his time between Palo Alto and San Francisco. He focuses on international tax planning for US and foreign multinationals and has advised on structuring M&A, internal restructurings and operations, joint ventures, external and internal financings, transfers and licenses of intellectual property, and transfer pricing matters. He has also represented clients in audits and appeals before the Internal Revenue Service.

The European Commission has told Spain it must change its its discriminatory anti-abuse rules in the corporate tax area