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China and South-East Asia offers investors a wide range of potential business locations. In the first of two articles, Steven Herring of RSM International examines the tax issues when investing in China, Hong Kong, Indonesia and the Philippines

HMRC has closed down a tax avoidance scheme that had been disclosed to it (HMRC) under the disclosure regime brought in by Finance Act 2004. The scheme would have sought to generate losses artificially by buying and selling the right to dividends on shares.

A plan to make Canberra, the capital of Australia, a tax haven has been rejected by Jim Lloyd, the federal territories minister, and Ted Quinlan, the treasurer of the Australian Capital Territory, where Canberra is located. Under the plan Canberra would no longer pay income tax, higher education contribution scheme, company tax, luxury car tax or fringe benefit tax. The only taxes that would remain would be the goods and services tax, the Medicare levy, superannuation guarantee levy and beer and spirit excise.

The tax team of Barros & Letelier, a law firm in Santiago, has moved to PricewaterhouseCoopers in the same city. Led by Francisco Selamé, it also comprises Astrid Schudeck, Francisca de la Maza and Sandra Benedetto.

On January 1 Federal Law # 117-FZ of 22 July 2005 came into effect, which introduces certain tax allowances for residents of special economic zones (SEZs). This law is an essential extension of the Law on Special Economic Zones (# 116-FZ of July 22 2005), which governs the creation of SEZs in Russia.

The Mexico-Greece double tax treaty was published on December 31 in the Mexican Official Gazette and became effective from January 1 2006.

The Belgian value-added tax (VAT) legislation foresees in the possibility that invoices are issued by the customer by derogation to the general rule that invoices are to be issued by the supplier of the goods or services (self-billing). In its administrative circular of December 8, the Belgian VAT authorities have now outlined the scope and the application modalities of the self-billing procedure. The administrative circular becomes effective retroactively as from January 1 2004.

The Indian Authority for Advance Rulings (AAR) recently examined whether a US pension trust is entitled to claim benefits under the India-US tax treaty for income from the sale of portfolio investments in India.

Nearly three-quarters of companies want the government to provide tax credits for the money that businesses spend on training, an UK Engineering Employers' Federation survey has found.

Miroslaw Barszcz: Key role in tax compliance Miroslaw Barszcz has left the Warsaw office of Baker & McKenzie to join the Government of Poland as vice minister of finance.