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Doing the tax work on the biggest buyout in history took more than strong nerves and a thorough knowledge of the issues. Claire Jones finds out that good cooperation played a critical part in Blackstone's acquisition of Equity Office

Edward Tanenbaum US investment advisers willing to forgo favourable capital gains treatment may be able to defer recognition of incentive compensation fees in respect of foreign capital under management. However, the arrangement must comply with the complex rules of Code Section 409A, and take into account potential changes to those rules.

Svetlana Stroykova Introduced in 1999, the Russian transfer pricing legislation has not proven an efficient tool. The government officials believe a number of factors make the Russian transfer pricing rules "work improperly". In particular, officials cite the burden of proof of non – arm's length nature of prices applied by the taxpayers resting with the Russian tax authorities; the existence of the 20% safe harbour allowing the taxpayers to shift considerable profits offshore; the absence of penalties in case of a transfer pricing adjustment; and the lack of experience of the Russian tax authorities in understanding transfer pricing concepts as problems.

Dunja Brodic Carl Pihlgren The Swedish government has adopted new tax rules on partial divisions in order to implement the 2005 amendments to the EC Merger Directive (2005/19/EC).

Germany's business community unhappy with interest deductibility changes Germany's corporate tax reform plans could stop the economy in its tracks rather than help it to resume strong growth.

Roberto del Toro Anabel Diaz As part of the 2007 Mexican Tax Reform, the rules relating to income obtained by foreign residents from a Mexican trust were modified.

Paul Tamaki Wanda Rumball Prior to 2007, Canadian trusts and partnerships were given flow-through treatment for tax purposes. As a result, many public corporations converted into public income trusts in order to avoid tax at the corporate level.

Monika Dziedzic From January 1 2007, dividends received by Polish companies from Polish companies and companies taxable in the European Union, European Economic Area and Switzerland are exempt from Polish income tax (CIT) if the company receiving the dividend holds a minimum of 15% (25% for Switzerland) of shares for an uninterrupted period of two years. From 2009, the 15% requirement will be reduced to 10%.

Adrian Crawford of KPMG says Irish politicians of all the main parties support the government's low tax model to attract multinationals to base themselves and their transactions in Ireland

The 10 most admired tax directors in North America, as voted by International Tax Review's readers, are a varied bunch. Between them they have more than 20 professional qualifications, with three being both qualified lawyers and certified public accountants. Their routes to the top have all been different. They tell Catherine Snowdon what has made them successful and what qualities a tax director needs to prosper