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Transport and logistics businesses in each Baltic State have their problems with local and EU VAT legislation, writes Irmantas Misiunas of Ernst & Young

British corporate and individual taxpayers that have money in overseas bank accounts outside the UK should take advantage of the chance to normalise their affairs, believes Andrew Watt of Chiltern

The input of senior officials from the US, UK and German governments, the European Commission and a former US assistant secretary for tax policy ensured that the government panel at the annual ABA/IBA tax planning strategies meeting in Frankfurt on April 19 and 20 would be a lively one.

Tax is intimately wrapped up in the discussions about to help the environment. Policy makers have identified charging businesses and individuals more when they contribute to climate change as one method. Another is emissions trading systems, where businesses can buy and sell allowances according to how much greenhouse gases they emit.

Edward Tanenbaum The Advice Memorandum 2007-006 is generic legal advice from chief counsel to the IRS field, assuring the field that a domestic corporate purchaser of a foreign target eligible entity (treated as a default corporation) can make a section 338(g) election and step up the basis of the target's assets, despite the fact that no US tax will be paid, and whether or not the election is extended to a US subsidiary of the target. The target was irrelevant for US tax purposes prior to the purchase, meaning generally that it had no US owners or business.

Oleh Marchenko Although the political situation may slow down the process, the Ukraine's State Tax Administration and government are actively pushing through enactment of a tax code. The tax code is expected to be largely a compilation of the existing tax law. However, some tax policy changes are also considered.

Matthew Desborough-Hurst The Chancellor, Gordon Brown, gave his annual Budget on March 21 2007.

Carl Philgren Earlier this year the National Board on Advance Rulings as a consequence of the Marks & Spencer case (C- 446/03) made several decisions regarding the Swedish group contribution system. In somes cases the rulings have been appealed by the Swedish tax authority.

Jim Flaherty, Canadian Finance Minister: adamant the deduction will be removed Taxpayers in Canada are furious with the government over a plan announced in the budget in March to remove a provision that allowed interest expense deductions from investments abroad.

In March, leaders from the EU's 27 member states pledged to cut carbon emissions by 20% of their 1990 level by 2020. Many believe that such an ambitious target is unlikely to be reached without an EU-wide carbon tax. But Claire Jones finds out rules on taxation and political opposition present difficulties