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Tax directors and advisers came to Hong Kong in November for International Tax Review's first Asia Tax Awards

Akio Takisaki The new tax treaty between Japan and the UK entered into force on October 12. In Japan, the new treaty will be applicable to the following taxes:

FASB has tried hard to address the question of uncertain tax positions. But its new standard fails to deal with all the issues, believe Hira Sharma of Chiltern, and Jim Eberle of Alvarez & Marsal

Bob van der Made On December 12 2006, the European Commission will hold its second joint consultation meeting on the CCCTB with business and academics in Brussels. This meeting will be followed by a meeting the next day between the Commission and EU member state experts in the Common Consolidated Corporate Tax Base (CCCTB) Working Group. The aim of these meetings will be to take stock of progress in 2006 and discuss how to further build the CCCTB. The working assumption of the Commission is still that a legislative proposal for a CCCTB can be presented to Council and Parliament by the end of 2008.

Roberto del Toro The Maquiladora programmes were established to promote labor in Mexico, by providing certain customs and tax benefits.

Carlos Montemayor and Jose Luis Olvera of PricewaterhouseCoopers compare the various approaches to capital gains tax on the sale of Mexican shares

By Alexander Vögele and Stefan Lutz of NERA Economic Consulting

With lower rates and less complexity, the tax systems of the newer EU economies have added to the pressure on the Union's older members to act. Three of those, Spain, Germany and the Netherlands, have roused themselves and will soon introduce reforms. Claire Jones and Catherine Snowdon find out if the plans are bold enough to compete with EU colleagues

Comprehensive reform of global financial structures may be required if capital flight and the resulting tax evasion is to be stopped, believes David Spencer

Dieter Endres The finance ministry has issued its long-awaited decree on advance pricing agreements (APA). The ground breaking novelty for the German tax scene is that the authorities seem, for the first time, to be ready to commit themselves in advance on intentions rather than facts. An APA is to be negotiated by the Central Tax Office at the request of the German taxpayer with the competent authority of the other state under the double tax treaty. This overcomes official reticence on tax deals, but does mean that APAs will be bilateral. A multilateral effect is achievable by negotiating the same agreement with each of the relevant national authorities.