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  • Hong Kong has scrapped plans to introduce a goods and services tax, because of public and political pressure
  • The UK government surprised taxpayers and advisers today by using its Pre-Budget Report (PBR) to respond to the European Court of Justice verdict in the Cadbury Schweppes case.
  • The reintroduction of a PAYGO regime by the US Congress could affect popular forms of tax relief, such as the R&D credit, as the need to offset the credits with revenue raisers could prove difficult.
  • Raj Tanden, previously a Morrison & Foerster partner, has joined the law firm's Los Angeles office.
  • Government officials are divided over plans to eliminate capital gains and dividend income tax breaks. But parliament appears to have resolved arguments over plans to cut the corporate income tax rate.
  • A more user-friendly approach to how VAT works in the EU is on the way after the latest meeting of Ecofin, the council of EU finance ministers.
  • Complying with electronic filing rules in the US meant more investment in staff and technology, a survey of tax executives has found.
  • In an unprecedented move, the Venezuelan tax authority (the SENIAT) has issued Royal Dutch Shell with a $17.4 million tax bill following a detailed transfer pricing assessment.
  • The US law firm has recruited Ilya Rybalkin, previously a partner at Nörr Stiefenhofer Lutz, to set up the group.
  • As part of the new Management Act, , Her Majesty's Revenue & Customs (HMRC) is asking for taxpayers' and professionals' views on the first draft of the new legislation. HMRC hope the act will simplify the legislative framework. Deadline for comments is February 20.