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The eventual outcome of the Textron case concerning the disclosure of workpapers during an audit could have implications for all companies that have to comply with the FIN 48 accounting standard

The British Institute of Directors (IoD) has called on the UK government to simplify its taxation system

The role of head of an in-house tax department is becoming an increasingly complex and challenging one to take on. Long hours, resource and talent shortages and ever-changing legislative landscapes are but a few of the challenges

Three new tax partners, all from Arnold & Porter, have joined the Washington, DC office of McDermott Will & Emery.

Risk is something that goes hand in hand with the oil and gas industry. Militants' guns in Nigeria, political tensions surrounding reserves in Russia and Venezuela and production uncertainty that paticipants must accept: the market faces it all. There is another challenger - the tax authorities

Christoph Schärer, in Zurich, and Harvey Mayne, in Frankfurt, from PricewaterhouseCoopers explains why VAT risk is a major threat to businesses in the EU

Vodafone and the UK tax authorities will return to the Special Commissioners for another hearing in a dispute over the country's controlled foreign companies (CFC) legislation and a Luxembourg subsidiary of the mobile communications company.

US treasury department The US tax authorities have released the list of issues they hope to produce guidance on by June 2008. The priority guidance plan released by the IRS and the Treasury department's office of tax policy on August 14 contains 303 projects.

Sean Foley Recently, the IRS Large and Midsize Business Division (LMSB) issued a new industry directive (LMSB-04-0407-035) focusing increased audit efforts on certain international hybrid instrument transactions. International hybrid instrument transactions are cross-border financing arrangements in which the taxpayer takes different positions in its treatment of the transaction as debt or equity for US and foreign tax purposes.

Manuel Bouzas Transfer pricing is an issue of growing importance in the international arena, owing to the globalisation of the economy and the absence of fiscal harmonisation. The OECD is well aware of this and has concentrated much effort on establishing a series of criteria which will enable states to approach the problem in a manner which is as uniform as possible, fostering cooperation between the tax authorities of the different states in areas such as information exchange and joint inspection procedures.