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Italy's prime minister Romano Prodi has said that projected tax cuts will be withheld until tax evasion is slashed. He said in Rome that evasion had reached 'indecent proportions'.

Teixeira dos Santos The new Portuguese presidency of the EU has identified tax evasion as one of its key themes. The presidency, which will run from July 1 to December 31, plans to boost the union's campaign against tax evasion.

The UK tax authorities published two consultation documents on June 20 looking for the views of taxpayers and practitioners on a system of advance rulings and clearances and a new approach to dealing with transfer pricing enquiries. The consultation period for both initiatives ends on September 13.

Vincci Lo tells Ralph Cunningham how rapidly developing tax systems and more intricate transactions ensure she is kept going to maintain efficient tax affairs for Lexmark in the Asia-Pacific region

Ilya Rybalkin and Ivan Meleshenko, of Hogan & Hartson in Moscow, look at a change in the law

Ray Wiacek, head of the global tax practice at Jones Day, argues that new IRS FTC regulations are contrary to some fundamental principles of tax administration

Jane Kennedy, the new financial secretary to the Treasury, will have overall responsibility for the tax system in the government of Gordon Brown, the new British prime minister.

Ruth Donaldson Ernst & Young has established a dedicated international tax and transfer pricing practice focused on the middle market. It says there is growing demand for these services as clients become more global and tax laws become increasingly complex. The team will serve principally sub - FTSE 250 and AIM listed companies and large privates.

Sean Foley US Customs and Border Protection (CBP) recently issued an informed compliance publication (ICP) containing valuable guidance on related parties pricing (Determining the Acceptability of Transaction Value for Related Party Transactions). As part of the released guidance, CBP explicitly expressed its position on the use of Advance Pricing Agreements (APAs) and transfer pricing studies to support a Customs arm's length price, as discussed below.

Akio Takisaki The concept of triangular mergers has been introduced in Japanese Company Law in order to allow for merger transactions in which the shareholders of the acquired company will be compensated with shares in the parent company of the acquirer. As part of the 2007 tax reform, the requirements for tax-qualified types of consideration in mergers and deferral of capital gains or losses in shares of the disappearing corporation have been substantially revised. Now, in general, triangular mergers can be executed with no additional taxes.