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The Tax Department is currently made up by seven partners and six senior associates, assisted by around forty five other tax lawyers from the offices of Madrid, Barcelona, Bilbao, Valencia, Lisbon, Porto and New York. The Department advises on all Spanish and Portuguese direct and indirect taxes, but has particular expertise in mergers and acquisitions, financial products and capital markets, International tax planning, real estate transactions and project finance, assurance and pension funds, internet and electronic business, high net worth individuals, stock options plans and alternate schemes and tax investigation and disputes.

Paul Davies: "More and more, HMRC are looking into whether tax information is documented correctly." Aidan O'Carroll: "What I want to do is to help the teams around the world, the biggest practices in particular, to work together." Paul Davies, who will take over from Aidan O'Carroll on July 1 as head of the UK tax group, has said that he considers tax accounting systems and controls the most important growth area for Ernst & Young's UK tax practice. O'Carroll will become the global tax leader for client services and accounts.

Treasury and the IRS have requested information regarding cross-licence agreements (CLA) in connection with an IRS project to provide guidance on the tax consequences of participating in a CLA.

On May 2 2006 the Luxembourg government announced some changes in corporate income tax, income tax, value-added tax (VAT) and social security.

Enrique López of Deloitte Abogados y Asesores Tributarios describes how Spain has maintained its attractiveness for cross-border planning

Mike Firth and Brian Wurts of PricewaterhouseCoopers discuss how the Goods and Services Tax has performed since it started 15 years ago and how the federal government and the provinces might overcome the obstacles to a national sales tax

The Indian Authority for Advance Ruling (AAR) in the case of Morgan Stanley & Co v DIT recently examined whether a US company had a permanent establishment (PE) in India under the India-USA tax treaty (the treaty) on account of outsourcing certain services to its affiliate subsidiary in India and from deputation of personnel to the subsidiary. The personnel who were to be deputed to India were to be engaged either for providing stewardship services to the Indian company or were to be seconded to work under the control of the Indian company.

The price for refined oil products in China has long remained at a lower level compared to the international market due to China's heavily regulated pricing system. With the international price of crude oil soaring since 2003, the disparity between the price of crude oil and refined oil products in the Chinese market has increased. This could lead to a number of potentially damaging outcomes controlled.