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In Switzerland corporate income taxes are levied at two different levels: federal level and cantonal level. Whereas the income of a Swiss company (or a branch) is subject to the same direct federal tax rate throughout Switzerland, the cantonal tax rates vary. In 2005, for ordinary income taxes, the canton Zug was top of the list of the most tax favourable cantons, followed by Appenzell and other cantons in Central Switzerland.

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.

The Tax Arrangement for the Kingdom (the TAK) functions as a tax treaty between the Netherlands, the Netherlands Antilles and Aruba. The TAK limits the Dutch dividend withholding tax to 8.3% in case of a participation of 25% or more.

According to domestic regulations, contracts wholly or partially involving the transfer, assignment or licence of technology from a foreign party to a local entity, including the provision of technical, financial or advisory services falling under Argentine technology transfer regulations (for example, technical assistance and transfer of know-how), have always been subject to registration requirements with the local technology transfer authorities (National Institute of Industrial Property or INPI) to allow the deduction of the amounts accrued during a given fiscal year.

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.