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The Dubai International Financial Centre (DIFC), an onshore financial free zone to complement the several free trade zones already existing in the United Arab Emirates, offers a 50-year tax holiday, 100% foreign ownership and unrestricted repatriation of profits and dividends. It is almost a year since the ruler of Dubai enacted the centre's first laws on September 19 2004.

Multinational companies with operations in the United Arab Emirates (UAE) could face higher tax bills after the country asked the IMF to help it to develop a value-added tax (VAT) system

Proposed services regulations and cost-sharing regulations are two of the projects that will interest corporate and international tax directors most in the 2005-2006 Priority Guidance Plan of the US Internal Revenue Service (IRS) and the Department of the Treasury, which was issued on August 8

TNK-BP was hit with a demand on August 11 for $245 million in back taxes from Russia's tax authorities for 2001, according to RIA, a Russian news agency. Though this is much less than the $560 million that the tax authorities originally wanted the oil company to pay, the agency reported that the authorities are continuing to look at TNK-BP's 2002 to 2004 activities and those of its subsidiaries in 2001. TNK-BP has agreed to pay the $245 million by August 18. According to RIA, therefore, the action against the company should be considered "as yet another indication that Vladimir Putin's call to reign in "tax terrorism" is being heeded".

Apple Computer, Dell and Hewlett-Packard are among the IT companies that are facing the prospect of having to refund about C$4 million ($3.35 million) in tax taken from Canadian customers who bought digital music players in a one-year period from December 2003 to December 2004

Tax practitioners who promote schemes encouraging tax evasion could be fined up to A$550, 000 ($424,000), following draft legislation issued on August 10

Alvarez & Marsal has appointed three new managing directors for international tax

Companies in the UK with EU tax claims face more onerous procedures

Michelle Gold has become a partner in the tax department of Fried, Frank, Harris, Shriver and Jacobson in Washington, DC

Christian Luthman has left Linklaters in Stockholm for Bird & Bird