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Ralph Cunningham asks five leading tax figures about what they expect to be the international tax trends and priorities in 2006

Foreign firms in China may face fewer tax benefits from late 2006, as the government implements reforms that target its corporate income tax policy. In January, China announced a plan to offer a number of tax incentives to facilitate social and economic development in 2006.

TN Pandey, a former chairman of India's Central Board for Direct Taxes, has said the country's fringe benefits tax should be reformed rather than scrapped

David Zaiken has joined Alvarez & Marsal Tax Advisory Services as a managing director in the firm's San Francisco office. He was previously a tax partner at KPMG on the US international tax and Asia Pacific supply chain teams. Before this he spent 26 years with Arthur Andersen as a tax partner and member of its global tax and supply chain teams.

Russell Nance and Gary Silverstein have been appointed special counsel in the tax department of Cadwalader Wickersham & Taft in New York. Nance advises on the tax aspects of debt and equity issuances, complex financial instruments, securitizations, collateralized debt obligations (CDO), and taxable and tax-deferred corporate acquisition and divestiture transactions. Silverstein represents issuers, underwriters, insurers and other parties on the tax aspects of mortgage-backed and asset-backed securities, real estate mortgage interest conduits and other debt issuances, including CDO and collateralized loan transactions.

According to reports, the US Senate-House conference to agree on tax reconciliation legislation will begin on February 3

The UK government has updated its draft legislation on real estate investment trusts as it relates to groups of companies. Written responses are due by February 10

In its report on the chancellor's pre-Budget report, the UK House of Commons' Treasury Committee has called on the Treasury to state if it intends to introduce a general anti-avoidance rule

The UK's tax authorities are to pay MFI, a household furnishings company, £21.8 million ($38.7 million) to settle a value-added tax dispute over insurance-backed structural guarantees.

Three lawyers at Jenkens & Gilchrist, a Dallas law firm, are being investigated in a widening of the probe into illegal tax shelter transactions in the US, according to the New York Times