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The Taiwan Ministry of Finance (MOF) has released its official view regarding tax treatments on M&A transactions involving share swaps and the redemption of preference shares in a specified date.

In India's robust economy, revenue authorities are fighting for their fair share of profit margins with increased vigour, say Vispi Patel and Sanjay Tolia of PricewaterhouseCoopers

S Madhavan and Sachin Menon of PricewaterhouseCoopers outline India's efforts to simplify and clarify its convoluted indirect tax system

Peter Dachs South Africa's recent Budget contained a number of surprising and far reaching amendments.

Rajendra Nayak Ganesh Pai The Mumbai Income Tax Appellate Tribunal (ITAT) in the case of Van Oord Dredging & Marine Contractors BV vs. DDIT (Mumbai) 105 ITD 97 examined the taxability under the India-Netherlands tax treaty (the treaty), of an arbitration award. The tax payer was an international dredging contractor and a tax resident of the Netherlands. It executed contracts in India through project/site offices maintained in India. Subsequent to closure of its project/site offices in India, the taxpayer earned income pursuant to an arbitration award, in relation to a project that was completed in an earlier year. The issue before the ITAT was the taxability of such income considering that there was no permanent establishment (PE) of the taxpayer in the year of receipt of income.

Stefan Ditsch Barbara Zuber From 2007 onwards, the statutory requirements for treaty relief from German withholding taxes on payments to foreign companies have been significantly tightened. Withholding tax rate reductions will not be granted on payments to a foreign company to the extent its own shareholders would not have been entitled to the relief, had they received the income direct, unless:

Nélio Weiss Philippe Jeffrey According to recently issued central bank regulations (circular no. 3345, dated March 16 2007), individuals and legal entities resident, domiciled or with headquarters in Brazil, are required to report annually to the Brazilian central bank (BACEN) their assets in foreign currency and any asset and/or right maintained abroad. The information must be disclosed to the BACEN through a declaration (forms are available in the bank's website: www.bcb.gov.br).

The tax executives that were members of the original EU Joint Transfer Pricing Forum in 2002 have all stepped down from the new line-up announced in April by Laszlo Kovacs, the European commissioner for taxation and customs union.

On the way to the Treasury Hailed as one of the most important developments in tax investigations for many years, a new offshore disclosure facility is expected to bring in billions of pounds in revenue to Her Majesty's Revenue and Customs (HMRC).

Mark Everson Mark Everson, the commissioner of internal revenue, is leaving the IRS one year short of completing his five-year term. He becomes president of the American Red Cross on May 29.