Search results for

Bermuda and the UK have signed a tax information exchange agreement. It is the third such deal for Bermuda but the first for the UK. It means that both countries will be able to obtain tax information from the other regardless of a crime having been committed.

Loss of tax receipts hits Zambia's poor Zambia's government has begun renegotiating fixed tax agreements held by international mining firms. It aims to have these operational by early in 2008.

Daren Yeoh, tax partner of Moore Stephens in Australia, in the second of a two-part series, looks at the methodologies for calculating taxable gains and loses

Ellie Patsalos Deloitte has made a series of key tax appointments worldwide. The firm has recruited new partners in China, the UK and Switzerland.

Heiko Stoll of Simmons & Simmons assesses particular aspects of the Business Tax Reform Act and discusses the problems in its wording

It all happens on January 1 2008. If Germany is remembered for anything else in 2007, it will be remembered for the business tax reform that takes effect at the beginning of next year. The changes are truly comprehensive, ranging from a cut in the corporate tax burden to amendments to transfer pricing rules. This doesn't affect Germany's annual tax legislation that Parliament approved in November.

Elmar Jaster and Burkhard von Loeffelholz of PricewaterhouseCoopers outline the problem with A decree from the ministry of finance on Germany's VAT laws

Irina Pushkina Nina Budazhapova One of the hot topics in Russia is the unclear application of clarifications issued by Russian authorities in favour of taxpayers, in other words, whether the tax authorities are obliged to follow such clarifications or not. According to the international practice, obtaining a binding ruling is always beneficial for the taxpayer since it provides clarity and should generally remove the risk that the tax authorities will try to charge the taxpayer with additional taxes and impose fines and penalties for related underpayment of taxes. Russian legislators are making efforts to approach the international clarifications practice. However, the position of taxpayers who obtain clarifications issued by the Russian authorised bodies is still unstable.

Henry An David Jin-Young Lee On October 2 2007, the Ministry of Finance and Economy (MOFE) announced its draft bill to revise the Special Tax Treatment Control Law which includes the new provision on partnership taxation as part of the 2008 tax reform. If the bill is approved by the National Assembly, the partnership rules will become effective for fiscal years beginning on or after January 1, 2009. A brief summary of the key items proposed by MOFE are:

Andrew Immerman, of Alston & Bird, says that the capital gains taxation of private equity managers faces attack in the US