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Interpretation of Article 4(1) and (2) of the Sixth VAT Directive. Whether certain financial transactions carried out by a political party constitute economic activities for the purposes of that directive.

A top UK tax strategist has criticised government plans to modernise the country's controlled foreign company rules, saying the concept of a CFC system is "questionable".

The requirement to sign 12 tax information exchange agreements should be seen as the start and not the end for countries wanting to comply with international standards of tax transparency, the leaders of the world's top eight economies have said

DLA Piper has boosted its tax practice in Italy by hiring a new litigation team. Antonio Tomassini has joined the firm's Milan office as a partner. He is joined by two associates.

International Tax Review is conducting a poll to find the 10 most admired tax directors in Asia. We are inviting the leading tax advisers, tax directors, CEOs and CFOs across Asia to vote for their preferences.

Stephen Nelson On November 6 2008, the PRC state administration of taxation (SAT) issued a circular regarding withholding tax by the PRC resident enterprises on distributing H-share dividends to overseas non-resident enterprise shareholders, Guoshuihan [2008] number 897. H-shares refer to shares of PRC companies listed on overseas stock exchanges (primarily Hong Kong). According to this circular, when a PRC resident enterprise pays dividends for the year 2008 and any subsequent year to an overseas H-share non-resident enterprise shareholder, a 10% tax must be withheld on the dividends paid. The dividend recipient can thereafter, either by itself or through an agent or through the PRC resident enterprise distributor, apply to the relevant tax authorities for any tax refunds in accordance with an applicable tax treaty, if any.

Stavros Strouzas In order to clarify the tax treatment in cases where losses are claimed or an allocation or apportionment of expenses and discounts is required, the commissioner of income tax has issued a circular which gives analysis of article 13 of the Income Tax Law as well as the case law of the Supreme Court of the Republic of Cyprus.

Nélio Weiss Philippe Jeffrey As discussed in a previous edition, law 11,638/2007, enacted on December 28 2007, introduced new rules to adapt Brazilian accounting practices to international accounting standards. Since then, the business community was eagerly waiting for the introduction of new provisions by the Brazilian Revenue Service, setting forth the tax implications (if any) deriving from the new Brazilian accounting standards.

Edmund Gill In 2007, the minister of finance formed the advisory panel on Canada's system of international taxation "to recommend ways to improve the competitiveness, efficiency and fairness of Canada's system of international taxation". On December 10 2008 the panel released its final report recommending that:

Chris Chatfield of Wood Group tells Georgiana Head of his radical plans for the UK tax system if he was chancellor of the exchequer