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By Catherine Snowdon, Americas reporter

Tax audits can be daunting and scary. When a company is facing that process in a new country for the first time, it can also be confusing. Catherine Snowdon learns about the investigations carried out in various countries and hears how best to deal with the tax authorities.

Although tax is no longer necessarily the primary driver for restructuring, companies can nevertheless optimise taxes by planning the restructuring appropriately, reveal Indraneel Roy Choudhury and Rakesh Mishra of PricewaterhouseCoopers

Transfer pricing in Asia has grown in importance for taxpayers and tax authorities. As officials adopt a get-tough approach to enforcement, taxpayers are being forced to work harder to ensure their related-party transactions cannot be challenged. Court cases during the year in jurisdictions, such as India, have revealed official attitudes to transfer pricing and what taxpayers can do to be on the right side of administrators.

After almost 20 years, China has finally passed a new income tax law. Glenn DeSouza of Baker & McKenzie describes how to deal efficiently and intelligently with the compliance burden it presents

By Andrew Bradford and Anthony McClenaghan, of Deloitte

Indirect tax has come up in the world. Once, it was looked on as the poor relation of direct tax. All the interesting policy and practice was happening with corporate rates. Now as the political appetite for taxing companies directly is dropping off fast, officials are looking at other taxes to raise revenue. They have identified indirect tax as a likely candidate. A national sales tax was one of the radical reforms proposed by the US president's advisory panel on federal tax reform less than two years ago. And, rather than impose direct taxes, some low-tax or no-tax jurisdictions such as the UAE are looking seriously at a value-added tax system.

By Harvey Mayne of PricewaterhouseCoopers

S Madhavan, of PricewaterhouseCoopers, India, examines the complexity of indirect taxes in India

Changes to the Irish tax credit system – foreign branches The Finance Act 2007 introduced significant changes to the tax credit system for Irish companies operating through an overseas branch. The new measures provide for the introduction of an Irish tax credit for taxes equivalent to corporation tax and capital gains tax paid by a branch in a country with which Ireland does not have a tax treaty or where the tax treaty provides no relief for such taxes.